Bango (LON:BGO) Stock Passes Below 50-Day Moving Average - Here's Why

Key Points

• Bango PLC's stock recently dropped below its 50-day moving average of GBX 88.97, trading as low as GBX 85.75.
• Canaccord Genuity reaffirmed a "buy" rating" for Bango with a price target of GBX 244, which is significantly higher than the current trading price.
• Insiders have purchased 31,080 shares of Bango stock in the last 90 days, reflecting confidence in the company, which has a 37.91% insider ownership rate.

Bango PLC (LON:BGO - Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 88.97 ($1.19) and traded as low as GBX 85.75 ($1.15). Bango shares last traded at GBX 90 ($1.21), with a volume of 62,721 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 244 price target on shares of Bango in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 244.

Bango Stock Down 2.0%

The company has a market capitalization of £67.76 million, a price-to-earnings ratio of -9.72 and a beta of 0.36. The business's 50-day moving average is GBX 88.97 and its 200-day moving average is GBX 87.01. The company has a quick ratio of 2.37, a current ratio of 0.71 and a debt-to-equity ratio of 37.64.

Insiders Place Their Bets

In other Bango news, insider Matt Wilson bought 1,978 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of GBX 97 per share, for a total transaction of £1,918.66. Also, insider Paul Larbey acquired 10,638 shares of the business's stock in a transaction on Monday, June 9th. The stock was purchased at an average cost of GBX 84 per share, with a total value of £8,935.92. Insiders have purchased 31,080 shares of company stock valued at $2,656,131 over the last 90 days. 37.91% of the stock is currently owned by insiders.

Bango Company Profile

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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