IG Design Group (LON:IGR) Trading Down 58.6% - Here's Why

Shares of IG Design Group plc (LON:IGR - Get Free Report) 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). 5,778,589 shares changed hands during trading, an increase of 778% from the average session volume of 658,226 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective 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 research note on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

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 company has a market cap of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The firm has a 50 day moving average price of GBX 132.46 and a two-hundred day moving average price of GBX 159.27.

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.