Nexteq (LON:NXQ) Price Target Cut to GBX 200

Nexteq (LON:NXQ) had its price target lowered by stock analysts at Canaccord Genuity Group from GBX 300 ($3.88) to GBX 200 ($2.59) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 150.00% from the company’s previous close.

Nexteq Price Performance

Shares of NXQ stock traded down GBX 42.50 ($0.55) during trading hours on Wednesday, reaching GBX 80 ($1.03). 3,484,640 shares of the stock were exchanged, compared to its average volume of 104,433. Nexteq has a 12-month low of GBX 76 ($0.98) and a 12-month high of GBX 160 ($2.07). The business’s fifty day moving average is GBX 134.07 and its two-hundred day moving average is GBX 139.29. The firm has a market capitalization of £53.19 million, a P/E ratio of 615.38 and a beta of 1.22.

About Nexteq

Nexteq plc operates as a business-to-business technology design and supply chain partner to industrial equipment manufacturers North America, Europe, Asia, Australia, rest of the United Kingdom, and internationally. It operates through two divisions, Quixant and Densitron. The Quixant segment engages in the design, development, and manufacture of gaming platforms and display solutions, such as cabinets and other computer platforms, as well as software for the casino gaming and slot machine industry.