Strix Group (LON:KETL) Stock Price Down 3.6% – Here’s Why

Shares of Strix Group Plc (LON:KETL) were down 3.6% on Tuesday . The company traded as low as GBX 39.63 and last traded at GBX 39.70. Approximately 1,988,074 shares changed hands during trading, an increase of 85% from the average daily volume of 1,074,788 shares. The stock had previously closed at GBX 41.20.

Analysts Set New Price Targets

Separately, Berenberg Bank cut their price target on Strix Group from GBX 75 to GBX 70 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 58.

Strix Group Stock Performance

The company has a debt-to-equity ratio of 192.67, a quick ratio of 1.19 and a current ratio of 1.68. The company has a market cap of £86.27 million, a price-to-earnings ratio of 11.41 and a beta of 0.90. The firm’s 50-day moving average price is GBX 41.41 and its 200 day moving average price is GBX 40.92.

About Strix Group

Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix’s core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly.

Strix has built up market leading capability and know-how, expanding into complementary products and technologies.