Bango (LON:BGO) Shares Up 10.3% - What's Next?

Key Points

• Bango PLC shares rose by 10.3% during trading, reaching a last price of GBX 128 ($1.74), with significantly higher trading volume compared to average sessions.
• Analyst Canaccord Genuity has reaffirmed a "buy" rating for Bango, setting a price target of GBX 244, which suggests potential upside in the stock price.
• Corporate insiders purchased shares recently, indicating confidence in Bango's future performance, as insiders hold 12.25% of the company's stock.

Bango PLC (LON:BGO - Get Free Report) shares shot up 10.3% during mid-day trading on Thursday . The stock traded as high as GBX 128.48 ($1.73) and last traded at GBX 128 ($1.72). 970,255 shares were traded during trading, an increase of 721% from the average session volume of 118,194 shares. The stock had previously closed at GBX 116 ($1.56).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 244 price objective on shares of Bango in a research note on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of GBX 244.

Bango Stock Up 2.0%

The firm has a market cap of £96.04 million, a price-to-earnings ratio of -2,631.58 and a beta of 0.36. The company has a debt-to-equity ratio of 37.64, a current ratio of 0.71 and a quick ratio of 2.37. The stock has a 50-day moving average of GBX 91.12 and a 200-day moving average of GBX 87.23.

Insiders Place Their Bets

In other Bango news, insider Matt Wilson bought 1,978 shares of the business's stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of GBX 97 per share, for a total transaction of £1,918.66. Also, insider Paul Larbey purchased 1,978 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of GBX 91 per share, with a total value of £1,799.98. Corporate insiders own 12.25% 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.