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

Shares of iomart Group plc (LON:IOM) traded down 16.1% during trading on Friday . The stock traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). 1,134,147 shares changed hands during mid-day 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).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated 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 quick ratio of 1.18, a current ratio of 1.03 and a debt-to-equity ratio of 47.08. The business has a 50-day simple moving average of GBX 34.09 and a two-hundred day simple moving average of GBX 65.51. The stock has a market capitalization of £31.21 million, a P/E ratio of 4.81 and a beta of 0.58.

iomart Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 9th were issued a dividend of GBX 1.30 ($0.02) per share. This represents a 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%.

iomart Group Company Profile

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).