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

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) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 88.97 ($1.20) and traded as low as GBX 85.75 ($1.16). Bango shares last traded at GBX 90 ($1.21), with a volume of 62,721 shares trading hands.

Analyst Ratings Changes

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

Bango Stock Performance

The stock's 50 day moving average price is GBX 88.67 and its 200 day moving average price is GBX 86.70. The company has a debt-to-equity ratio of 37.64, a quick ratio of 2.37 and a current ratio of 0.71. The company has a market capitalization of £67.31 million, a P/E ratio of -9.66 and a beta of 0.36.

Insiders Place Their Bets

In other news, insider Matt Wilson acquired 1,978 shares of Bango stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of GBX 97 per share, with a total value of £1,918.66. Also, insider Paul Larbey acquired 1,978 shares of Bango stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of GBX 91 per share, for a total transaction of £1,799.98. Over the last ninety days, insiders bought 31,080 shares of company stock worth $2,656,131. Insiders own 37.91% of the company's stock.

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.