IQE (LON:IQE) Stock Price Down 2.9% – Here’s What Happened

IQE plc (LON:IQE) dropped 2.9% during mid-day trading on Wednesday . The company traded as low as GBX 16.60 ($0.21) and last traded at GBX 16.86 ($0.21). Approximately 6,977,199 shares changed hands during trading, an increase of 124% from the average daily volume of 3,109,436 shares. The stock had previously closed at GBX 17.36 ($0.22).

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 20 ($0.25) price objective on shares of IQE in a report on Thursday.

IQE Price Performance

The stock has a fifty day moving average of GBX 12.57 and a 200-day moving average of GBX 16.87. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 49.21. The firm has a market capitalization of £148.93 million, a P/E ratio of -6.39, a PEG ratio of 12.70 and a beta of 1.86.

About IQE

IQE is the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry.