Braemar (LON:BMS) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Braemar Plc's share price has recently surpassed its 200-day moving average, trading at GBX 256 ($3.49), indicating positive market momentum.
• Analysts at Canaccord Genuity have lowered their price target on Braemar from GBX 350 to GBX 320, while maintaining a "buy" rating, reflecting cautious optimism.
• Insider James Christopher Duchar Gundy sold 31,358 shares at an average price of GBX 217 as part of a significant transaction, indicating insider trading activity.

Shares of Braemar Plc (LON:BMS - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 236.88 ($3.19) and traded as high as GBX 256 ($3.45). Braemar shares last traded at GBX 256 ($3.45), with a volume of 45,235 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price objective on Braemar from GBX 350 to GBX 320 and set a "buy" rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Braemar has an average rating of "Buy" and a consensus target price of GBX 320.

Braemar Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 43.61. The company has a market cap of £75.11 million, a price-to-earnings ratio of 1,483.72 and a beta of 1.17. The company has a fifty day simple moving average of GBX 241.68 and a two-hundred day simple moving average of GBX 236.72.

Insider Activity

In related news, insider James Christopher Duchar Gundy sold 31,358 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of GBX 217, for a total transaction of £68,046.86. 16.93% of the stock is owned by corporate insiders.

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.