iomart Group (LON:IOM) Shares Down 8% – Here’s What Happened

iomart Group plc (LON:IOM)’s share price fell 8% on Friday . The company traded as low as GBX 21.48 ($0.29) and last traded at GBX 22.44 ($0.30). 757,198 shares changed hands during mid-day trading, an increase of 117% from the average session volume of 348,357 shares. The stock had previously closed at GBX 24.40 ($0.32).

Analyst Upgrades and Downgrades

Separately, Shore Capital reissued a “buy” rating on shares of iomart Group in a research note on Friday, February 7th.

iomart Group Trading Down 8.0 %

The stock has a fifty day moving average of GBX 32.77 and a 200-day moving average of GBX 63.16. The company has a market cap of £26.43 million, a PE ratio of 4.07 and a beta of 0.58. The company has a debt-to-equity ratio of 47.08, a quick ratio of 1.18 and a current ratio of 1.03.

iomart Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were given a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date of this dividend was Thursday, January 9th. This represents a dividend yield of 1.38%. iomart Group’s dividend payout ratio (DPR) is 90.68%.

About iomart Group

iomart Group plc (AIM: IOM) is one of the UK’s leading provider of secure cloud managed services, simplifying the complexities of modern technology for businesses. Our team of 650+ experts deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.

We proudly hold one of the UK’s most extensive sets of Microsoft credentials, including Azure Expert MSP, five Solution Partner Designations, and membership in Microsoft’s Intelligent Security Association (MISA).