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

Key Points

• Bango PLC's stock has fallen below its 50-day moving average, trading as low as GBX 87.50, with the last price at GBX 91.25.
• Canaccord Genuity has set a target price of GBX 244 for Bango shares, which currently hold a consensus rating of "Buy."
• Insiders have recently acquired a total of 31,080 shares of Bango stock, indicating confidence in the company's future.

Bango PLC (LON:BGO - Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 88.52 ($1.19) and traded as low as GBX 87.50 ($1.17). Bango shares last traded at GBX 91.25 ($1.22), with a volume of 42,754 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "buy" rating and set a GBX 244 target price on shares of Bango in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of GBX 244.

Bango Stock Up 0.6%

The company has a quick ratio of 2.37, a current ratio of 0.71 and a debt-to-equity ratio of 37.64. The firm has a 50 day moving average of GBX 88.44 and a 200 day moving average of GBX 86.40. The firm has a market cap of £71.45 million, a price-to-earnings ratio of -1,957.89 and a beta of 0.36.

Insider Buying and Selling

In other news, insider Paul Larbey acquired 1,978 shares of Bango stock in a transaction on Monday, August 18th. The stock was purchased at an average price of GBX 91 per share, with a total value of £1,799.98. Also, insider Matt Wilson acquired 1,978 shares of Bango stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of GBX 97 per share, with a total value of £1,918.66. Insiders acquired 31,080 shares of company stock valued at $2,656,131 in the last three months. Insiders own 12.23% 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.