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

Key Points

• Bango PLC's stock price has fallen below its 50-day moving average, currently trading at GBX 96 ($1.28) compared to the average of GBX 98.73 ($1.31).
• Analysts have maintained a buy rating for Bango with a price target of GBX 244, reflecting a positive outlook despite the recent decline in share price.
• Recent insider trading includes the sale of 32,500 shares by Ray Anderson and the purchase of 1,978 shares by Paul Larbey, demonstrating varied confidence among company insiders.

Bango PLC (LON:BGO - Get Free Report) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 98.73 ($1.31) and traded as low as GBX 96 ($1.28). Bango shares last traded at GBX 96 ($1.28), with a volume of 42,420 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "buy" rating and set a GBX 244 price target on shares of Bango in a research note on Monday, September 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Bango presently has an average rating of "Buy" and an average price target of GBX 244.

Bango Stock Performance

The company has a market capitalization of £73.89 million, a P/E ratio of -27.91 and a beta of 0.36. The firm has a 50 day moving average price of GBX 98.73 and a two-hundred day moving average price of GBX 91.37. The company has a debt-to-equity ratio of 37.64, a quick ratio of 2.37 and a current ratio of 0.71.

Insider Activity

In other news, insider Ray Anderson sold 32,500 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of GBX 101, for a total value of £32,825. Also, insider Paul Larbey acquired 1,978 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average price of GBX 91 per share, for a total transaction of £1,799.98. Corporate insiders own 12.25% 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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