ASOS (LON:ASC) Trading 18.4% Higher – Here’s Why

Shares of ASOS Plc (LON:ASC) rose 18.4% during mid-day trading on Saturday . The company traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). Approximately 1,883,284 shares changed hands during trading, an increase of 268% from the average daily volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Analysts Set New Price Targets

Separately, Shore Capital upgraded ASOS to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 391 ($5.05).

ASOS Trading Up 18.4 %

The company has a debt-to-equity ratio of 187.55, a current ratio of 1.61 and a quick ratio of 0.39. The business’s 50-day moving average is GBX 352.73 and its two-hundred day moving average is GBX 384.02. The firm has a market cap of £361.77 million, a P/E ratio of -1.07, a P/E/G ratio of -1.26 and a beta of 2.86.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.