Workspace Group (LON:WKP) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 400.94 and traded as high as GBX 425.50. Workspace Group shares last traded at GBX 424.50, with a volume of 95,661 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Peel Hunt reaffirmed a “buy” rating and issued a GBX 500 target price on shares of Workspace Group in a report on Thursday, October 16th. Berenberg Bank restated a “buy” rating and issued a GBX 487 price objective on shares of Workspace Group in a report on Wednesday, January 21st. Jefferies Financial Group lowered their price objective on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Workspace Group from GBX 520 to GBX 480 and set a “buy” rating on the stock in a research note on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 489.25.

Workspace Group Stock Performance

The business’s 50 day simple moving average is GBX 400.44 and its two-hundred day simple moving average is GBX 400.94. The firm has a market capitalization of £816.27 million, a PE ratio of -10.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.11 and a debt-to-equity ratio of 57.43.

Workspace Group (LON:WKP) last announced its earnings results on Wednesday, November 19th. The company reported GBX (37) earnings per share (EPS) for the quarter. Workspace Group had a negative return on equity of 12.20% and a negative net margin of 104.45%. Research analysts expect that Workspace Group Plc will post 36.7630058 earnings per share for the current fiscal year.

Insider Buying and Selling at Workspace Group

In related news, insider David Stevenson bought 1,320 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were bought at an average cost of GBX 377 per share, with a total value of £4,976.40. Also, insider Rosie Shapland bought 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of GBX 383 per share, with a total value of £34,470. Over the last ninety days, insiders acquired 14,410 shares of company stock valued at $5,441,572. Insiders own 5.30% of the company’s stock.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.