iomart Group (LON:IOM) Shares Down 16.1% – Here’s Why

iomart Group plc (LON:IOM) shares dropped 16.1% during mid-day trading on Friday . The stock traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). Approximately 1,134,147 shares changed hands during trading, an increase of 257% from the average daily volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Analyst Upgrades and Downgrades

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

iomart Group Stock Down 16.1 %

The company has a current ratio of 1.03, a quick ratio of 1.18 and a debt-to-equity ratio of 47.08. The business has a fifty day simple moving average of GBX 34.46 and a two-hundred day simple moving average of GBX 66.32. The company has a market cap of £31.21 million, a PE ratio of 4.81 and a beta of 0.58.

iomart Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were paid a GBX 1.30 ($0.02) dividend. This represents a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, January 9th. iomart Group’s dividend 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).