Braemar (LON:BMS) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Braemar Plc recently traded above their 200-day moving average, reaching a high of GBX 259 ($3.50), with the last trade at GBX 250 ($3.38).
• Analysts from Canaccord Genuity have reduced their price target for Braemar from GBX 350 to GBX 320, while maintaining a "buy" rating; the consensus rating remains "buy" with an average price target of GBX 365.
• Insider James Christopher Duchar Gundy sold 31,358 shares at an average price of GBX 217, leading to a total transaction value of approximately £68,046.86.

Braemar Plc (LON:BMS - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 237.24 ($3.23) and traded as high as GBX 259 ($3.52). Braemar shares last traded at GBX 250 ($3.40), with a volume of 94,211 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their price objective on shares of Braemar from GBX 350 to GBX 320 and set a "buy" rating on the stock in a report on Thursday, May 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Braemar has an average rating of "Buy" and an average price target of GBX 365.

Braemar Price Performance

The stock's 50-day moving average price is GBX 238.86 and its 200 day moving average price is GBX 236.62. The firm has a market capitalization of £75.72 million, a price-to-earnings ratio of 1,495.78 and a beta of 1.17. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 43.61.

Insider Transactions at Braemar

In related news, insider James Christopher Duchar Gundy sold 31,358 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of GBX 217, for a total transaction of £68,046.86. Insiders own 16.93% of the company's stock.

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.