Mercia Asset Management (LON:MERC) Stock Price Up 12.2% – What’s Next?

Mercia Asset Management PLC (LON:MERC) shot up 12.2% during trading on Wednesday . The company traded as high as GBX 30 ($0.40) and last traded at GBX 28.60 ($0.38). 197,077 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 708,627 shares. The stock had previously closed at GBX 25.50 ($0.34).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 64 ($0.85) price target on shares of Mercia Asset Management in a research note on Wednesday.

Mercia Asset Management Price Performance

The stock has a market cap of £131.94 million, a price-to-earnings ratio of 0.31 and a beta of 1.20. The company has a quick ratio of 5.34, a current ratio of 4.41 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is GBX 25.71 and its 200-day moving average is GBX 28.21.

Insider Activity

In other news, insider Martin James Glanfield bought 129,624 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average price of GBX 27 ($0.36) per share, for a total transaction of £34,998.48 ($46,435.56). Corporate insiders own 27.11% of the company’s stock.

About Mercia Asset Management

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group’s ‘Complete Capital Solution’. The Group initially nurtures businesses via its third-party funds under management then, over time, Mercia can provide further funding to the most promising companies by deploying direct investment follow-on capital from its own balance sheet.