IG Design Group (LON:IGR) Shares Down 59.1% - Here's What Happened

IG Design Group plc (LON:IGR - Get Free Report) shares dropped 59.1% during mid-day trading on Friday . The company traded as low as GBX 58 ($0.71) and last traded at GBX 58.30 ($0.71). Approximately 4,509,529 shares changed hands during mid-day trading, an increase of 716% from the average daily volume of 552,471 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analysts Set New Price Targets

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

IG Design Group Stock Performance

The company's fifty day simple moving average is GBX 133.97 and its 200 day simple moving average is GBX 159.96. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04. The stock has a market capitalization of £56.79 million, a price-to-earnings 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.