Zotefoams (LON:ZTF) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Zotefoams plc (LON:ZTF)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 407.11 and traded as high as GBX 460. Zotefoams shares last traded at GBX 442.29, with a volume of 1,476,672 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Zotefoams from GBX 640 to GBX 675 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Berenberg Bank reissued a “buy” rating and set a GBX 590 price objective on shares of Zotefoams in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 605.

Zotefoams Stock Performance

The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 43.83. The company’s 50-day moving average is GBX 408.85 and its two-hundred day moving average is GBX 400.69. The company has a market capitalization of £211.48 million, a P/E ratio of 9.58, a PEG ratio of 0.66 and a beta of 1.24.

About Zotefoams

Zotefoams plc, together with its subsidiaries, manufactures, distributes, and sells polyolefin block foams in the United Kingdom, rest of Europe, North America, and internationally. The company operates through Polyolefin Foams, High-Performance Products, and MuCell Extrusion LLC segments. It offers AZOTE, a polyolefin foam under the Plastazote, Evazote, and Supazote, AZOTE Adapt brands; and various high-performance foams manufactured from fluoropolymers, engineering polymers, and specialty elastomers under the ZOTEK brand; and Ecozote foam for plastic products that offers circularity and reduce reliance on fossil fuel-derived raw materials.