discoverIE Group (LON:DSCV) Sets New 52-Week Low – Time to Sell?

discoverIE Group plc (LON:DSCV)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as GBX 523 ($6.74) and last traded at GBX 523 ($6.74), with a volume of 108343 shares. The stock had previously closed at GBX 546 ($7.04).

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DSCV. Shore Capital reaffirmed a “hold” rating on shares of discoverIE Group in a research note on Thursday, January 30th. Berenberg Bank restated a “buy” rating and issued a GBX 950 ($12.25) price objective on shares of discoverIE Group in a report on Monday, December 9th.

discoverIE Group Stock Performance

The company’s 50-day moving average price is GBX 576.55 and its two-hundred day moving average price is GBX 630.60. The company has a market cap of £497.25 million, a P/E ratio of 32.04 and a beta of 1.09. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.88.

Insider Activity at discoverIE Group

In related news, insider Bruce Thompson bought 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of GBX 544 ($7.01) per share, for a total transaction of £65,280 ($84,177.95). Also, insider Clive Watson bought 5,000 shares of discoverIE Group stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of GBX 543 ($7.00) per share, with a total value of £27,150 ($35,009.67). Insiders acquired a total of 17,175 shares of company stock valued at $9,349,400 over the last ninety days. Insiders own 4.50% of the company’s stock.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.