iomart Group (LON:IOM) Trading Down 16.1% – Here’s What Happened

Shares of iomart Group plc (LON:IOM) fell 16.1% on Friday . The company traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). 1,134,147 shares were traded during trading, an increase of 257% from the average session volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “buy” rating on shares of iomart Group in a research note on Friday, February 7th.

iomart Group Price Performance

The firm’s fifty day simple moving average is GBX 34.09 and its 200-day simple moving average is GBX 65.51. The firm has a market capitalization of £31.21 million, a PE ratio of 4.81 and a beta of 0.58. The company has a quick ratio of 1.18, a current ratio of 1.03 and a debt-to-equity ratio of 47.08.

iomart Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 9th were issued a GBX 1.30 ($0.02) dividend. The ex-dividend date of this dividend was Thursday, January 9th. This represents a yield of 1.38%. iomart Group’s payout ratio is currently 90.68%.

About iomart Group

iomart Group plc (AIM: IOM) is one of the UK’s leading provider of secure cloud managed services, simplifying the complexities of modern technology for businesses. Our team of 650+ experts deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.

We proudly hold one of the UK’s most extensive sets of Microsoft credentials, including Azure Expert MSP, five Solution Partner Designations, and membership in Microsoft’s Intelligent Security Association (MISA).