Iofina (LON:IOF) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Iofina plc (LON:IOF) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 20.11 ($0.26) and traded as high as GBX 21.70 ($0.28). Iofina shares last traded at GBX 21.50 ($0.28), with a volume of 230,730 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 37.50 ($0.48) price target on shares of Iofina in a research note on Thursday, January 23rd.

Iofina Stock Performance

The company has a market capitalization of £50.72 million, a P/E ratio of 14.83 and a beta of 0.71. The stock has a fifty day simple moving average of GBX 20.98 and a 200-day simple moving average of GBX 20.13. The company has a quick ratio of 1.56, a current ratio of 2.60 and a debt-to-equity ratio of 11.11.

About Iofina

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.