IG Design Group (LON:IGR) Shares Down 58.6% - Here's What Happened

IG Design Group plc (LON:IGR - Get Free Report) shares dropped 58.6% during mid-day trading on Friday . The stock traded as low as GBX 57 ($0.69) and last traded at GBX 59 ($0.72). Approximately 5,778,589 shares changed hands during mid-day trading, an increase of 778% from the average daily volume of 658,226 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their target price on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a "buy" rating on the stock in a report on Thursday, September 26th.

IG Design Group Price Performance

The stock has a market cap of £56.79 million, a P/E ratio of 212.86 and a beta of 1.08. The company has a 50 day simple moving average of GBX 132.46 and a 200 day simple moving average of GBX 159.27. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04.

About IG Design Group

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life's special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA. Its products are found in over 210,000 retail outlets, including several of the world's biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.