Bango (LON:BGO) Shares Down 11.3% - Should You Sell?

Key Points

• Shares fell 11.3% intraday to GBX 68.71 (previous close GBX 77.50) on light trading of 113,952 shares, below the average session volume of 116,820.
• Analyst Canaccord cut its target from GBX 244 to GBX 212 but kept a "buy" rating; the consensus rating remains Buy with a consensus target of GBX 212.
• Insiders bought shares recently — 28,274 shares purchased in the last three months (insiders now own 12.05% of the company), signaling insider confidence despite the price drop.

Shares of Bango PLC (LON:BGO - Get Free Report) traded down 11.3% during mid-day trading on Monday . The company traded as low as GBX 67.03 and last traded at GBX 68.71. 113,952 shares traded hands during trading, a decline of 2% from the average session volume of 116,820 shares. The stock had previously closed at GBX 77.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their target price on shares of Bango from GBX 244 to GBX 212 and set a "buy" rating on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of GBX 212.

Bango Price Performance

The business's fifty day simple moving average is GBX 70.40 and its 200-day simple moving average is GBX 83.35. The company has a current ratio of 0.73, a quick ratio of 2.37 and a debt-to-equity ratio of 79.21. The firm has a market cap of £51.89 million, a P/E ratio of -19.59 and a beta of 0.54.

Insider Buying and Selling at Bango

In other news, insider Matt Wilson purchased 12,755 shares of the business's stock in a transaction on Tuesday, January 27th. The stock was purchased at an average cost of GBX 78 per share, with a total value of £9,948.90. Also, insider Paul Larbey purchased 15,115 shares of the business's stock in a transaction on Friday, February 6th. The stock was purchased at an average cost of GBX 79 per share, with a total value of £11,940.85. Insiders bought a total of 28,274 shares of company stock valued at $2,219,038 in the last three months. Company insiders own 12.05% of the company's stock.

About Bango

Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers. The world's largest content providers, including Amazon NASDAQ: AMZN, Google NASDAQ: GOOG and Microsoft NASDAQ: MSFT trust Bango technology to reach subscribers everywhere. Bango, where people subscribe.

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