Shares of iomart Group plc (LON:IOM) experienced a significant decline of 6.9% during midday trading on Wednesday, falling to a low of GBX 16.70 before closing at GBX 17.95. The trading volume surged to 772,870 shares, marking a substantial increase of 192% compared to the average session volume of 265,063 shares. The stock had previously closed at GBX 19.28.
Market Performance and Financial Indicators
The current ratio for iomart Group stands at 1.03, while its quick ratio is 1.18. The company’s debt-to-equity ratio is notably high at 47.08. With a market capitalization of £18.73 million, the stock reports a PE ratio of -0.31 and a beta of 0.58. Currently, the company’s 50-day moving average price is GBX 18.43, while the 200-day moving average price is GBX 20.69.
On November 26, 2023, iomart Group announced its quarterly earnings, revealing an earnings per share (EPS) of GBX (1.90). The company reported a net margin of 5.07% and a return on equity of 5.24%. Analysts predict that iomart Group will achieve an EPS of 7.45 for the current fiscal year.
Company Overview and Services
Based in the UK, iomart Group plc is a prominent provider of secure cloud managed services, aiming to simplify the complexities of modern technology for businesses. The company boasts a team of over 650 experts delivering advanced solutions in cloud infrastructure, modern workplace management, and managed security services. These offerings are designed to empower customers to innovate, protect, and scale their operations effectively.
Additionally, iomart Group holds a distinguished set of Microsoft credentials, including being recognized as an Azure Expert MSP, achieving five Solution Partner Designations, and maintaining membership in Microsoft’s Intelligent Security Association (MISA).
As the stock market fluctuates and investors react to these recent developments, the performance of iomart Group will be closely monitored in the coming weeks.
