Morgan Advanced Materials Hits 52-Week High on Biggest Gain in Six Months
Morgan Advanced Materials shares reached a new 52-week high in early London trade today, rising 8.3% to 287p, their biggest one-day gain in six months, with volume on course for 2.7 times its 20-day average pace.
Morgan Advanced Materials (LON: MGAM), the specialty industrial machinery group, hit a new 52-week high of 290p in early trade today. The shares were at 287p by 8:45am London time, up 8.3% on the session.
They have traded between 274.5p and 290p so far, clear of the previous 52-week high of 278p. The FTSE 350 industrials company has a market value of £747.7m, and the shares are up 35.9% since the start of the year.
Morgan Advanced Materials share price over the month around today’s session; the latest level is a delayed quote at 8:45am London time.
How unusual this is
An 8.3% rise is the biggest one-day gain for Morgan Advanced Materials in 126 sessions, or six months, ranking first across that period.
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By 8:45am, 189,845 shares had changed hands, against a 20-day daily average of 586,695. At that rate the session is on course for about 2.7 times the average.
Daily changes in Morgan Advanced Materials shares over six months, with today’s move highlighted; the latest level is a delayed quote at 8:45am London time.
At 287p, the shares sit 58.1% above their 52-week low.
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