Invinity Energy Systems (LON:IES) Trading Down 8.4% – Here’s What Happened

Shares of Invinity Energy Systems plc (LON:IES) dropped 8.4% on Saturday . The stock traded as low as GBX 9.50 ($0.12) and last traded at GBX 9.50 ($0.12). Approximately 1,734,769 shares changed hands during mid-day trading, an increase of 228% from the average daily volume of 529,586 shares. The stock had previously closed at GBX 10.38 ($0.13).

Analyst Upgrades and Downgrades

IES has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 40 ($0.52) price target on shares of Invinity Energy Systems in a research note on Tuesday, February 18th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 40 ($0.52) price target on shares of Invinity Energy Systems in a research note on Wednesday, December 4th.

Invinity Energy Systems Stock Down 8.4 %

The firm has a 50 day moving average of GBX 13.23 and a 200 day moving average of GBX 13.46. The firm has a market cap of £41.55 million, a price-to-earnings ratio of -1.09 and a beta of 2.24. The company has a quick ratio of 2.00, a current ratio of 6.96 and a debt-to-equity ratio of 0.87.

Insider Buying and Selling

In other Invinity Energy Systems news, insider Adam Howard bought 134,333 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of GBX 15 ($0.19) per share, with a total value of £20,149.95 ($26,046.99). 34.42% of the stock is currently owned by insiders.

Invinity Energy Systems Company Profile

Invinity Energy Systems plc is a global manufacturer of vanadium flow batteries (VFB), a leading alternative to lithium-ion technology. Ideally placed to address the substantial demand for long-duration utility-grade stationary energy storage solutions, Invinity has deployed its modular battery systems across 82 sites in 15 countries, more than any other company in the space.