Bango (LON:BGO) Shares Up 0.1% - Time to Buy?

Key Points

• Bango PLC's stock price rose by 0.1%, trading at GBX 87.55 ($1.18) with a significant decrease in trading volume, down 95% from its average daily volume.
• Analysts from Canaccord Genuity have set a new target price of GBX 244 ($3.30) for Bango shares, maintaining a "buy" rating.
• Insider transactions reveal that insiders have purchased 27,124 shares worth approximately $2.28 million in the past three months, indicating strong confidence in the company.

Bango PLC (LON:BGO - Get Free Report) rose 0.1% during mid-day trading on Thursday . The stock traded as high as GBX 88.13 ($1.19) and last traded at GBX 87.55 ($1.18). Approximately 6,241 shares traded hands during trading, a decline of 95% from the average daily volume of 116,287 shares. The stock had previously closed at GBX 87.50 ($1.18).

Analysts Set New Price Targets

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

Bango Stock Performance

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 company has a market capitalization of £68.15 million, a PE ratio of -9.78 and a beta of 0.36. The stock's fifty day simple moving average is GBX 89.04 and its 200-day simple moving average is GBX 87.06.

Insider Activity at Bango

In other Bango news, insider Paul Larbey purchased 10,638 shares of the stock in a transaction dated Monday, June 9th. The shares were acquired at an average cost of GBX 84 per share, for a total transaction of £8,935.92. Insiders have purchased 27,124 shares of company stock valued at $2,284,267 in the last quarter. 37.91% of the stock is owned by corporate insiders.

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.