The stock of ICG Enterprise Trust PLC (LON:ICGT) hit a new 52-week high and has GBX 1528.12 target or 153.00% above today’s GBX 604.00 share price. The 9 months bullish chart indicates low risk for the GBX 427.45 million company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 1528.12 price target is reached, the company will be worth GBX 654.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.85% or GBX 11 on September 13, hitting GBX 604. About 60,561 shares traded hands or 93.07% up from the average. ICG Enterprise Trust PLC (LON:ICGT) has declined 18.10% since February 15, 2016 and is downtrending. It has underperformed by 34.59% the S&P500.
ICG Enterprise Trust plc, formerly Graphite Enterprise Trust PLC, is an investment trust. The company has a market cap of 427.45 million GBP. The Firm aims to provide shareholders with long term capital growth through investment in unquoted companies. It has a 11.36 P/E ratio. The Company’s objective is to generate income and consistently high returns whilst protecting against investment downside.
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