IG Design Group (LON:IGR) Shares Down 58.7% - Here's Why

IG Design Group plc (LON:IGR - Get Free Report) fell 58.7% during trading on Friday . The stock traded as low as GBX 57 ($0.69) and last traded at GBX 58.80 ($0.72). 6,975,295 shares were traded during trading, an increase of 820% from the average session volume of 757,951 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analyst Weigh In

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

IG Design Group Price Performance

The business's 50 day moving average is GBX 132.46 and its two-hundred day moving average is GBX 159.27. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.85 and a current ratio of 1.88. The firm has a market capitalization of £56.79 million, a PE ratio of 212.86 and a beta of 1.08.

IG Design Group Company Profile

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.