The stock of Maven Income & Growth VCT PLC (LON:MIG1) hit a new 52-week low and has GBX 53.68 target or 12.00% below today’s GBX 61.00 share price. The 8 months bearish chart indicates high risk for the GBX 32.64 million company. The 1-year low was reported on Nov, 8 by Barchart.com. If the GBX 53.68 price target is reached, the company will be worth GBX 3.92 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 2.01% or GBX 1.25 on November 8, hitting GBX 61. About 3,153 shares traded hands. Maven Income & Growth VCT PLC (LON:MIG1) has declined 4.97% since April 11, 2016 and is downtrending. It has underperformed by 6.92% the S&P500.
Maven Income and Growth VCT PLC is a United-Kingdom based venture capital trust . The company has a market cap of 32.64 million GBP. The Firm aims to achieve long-term capital appreciation and generate maintainable levels of income for shareholders. It has a 9.14 P/E ratio. The Firm invests majority of its funds in a diversified portfolio of shares and securities in smaller, unquoted United Kingdom companies and Alternative Investment Market/Integrated Services Digital Exchange (AIM/ISDX) quoted companies, which meet the criteria for VCT qualifying investments; invests approximately 15% of the Company’s assets by cost in a business at any time, and borrowing approximately 15% of net asset value, if required and only on a selective basis, in pursuit of its investment strategy.
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