CAB Payments (LON:CABP) Trading 18.9% Higher - Here's Why

CAB Payments Holdings Limited (LON:CABP - Get Free Report)'s stock price was up 18.9% during mid-day trading on Tuesday . The stock traded as high as GBX 55 ($0.76) and last traded at GBX 54.70 ($0.75). Approximately 2,140,292 shares were traded during mid-day trading, an increase of 332% from the average daily volume of 495,760 shares. The stock had previously closed at GBX 46 ($0.63).

Analysts Set New Price Targets

CABP has been the topic of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of CAB Payments from GBX 105 ($1.44) to GBX 99 ($1.36) and set a "speculative buy" rating on the stock in a report on Thursday, March 13th. Shore Capital restated a "house stock" rating on shares of CAB Payments in a research report on Wednesday, June 4th.

CAB Payments Price Performance

The firm has a market cap of £131.08 million and a price-to-earnings ratio of 6.76. The business has a fifty day simple moving average of GBX 44.36 and a 200 day simple moving average of GBX 51.69.

Insiders Place Their Bets

In other news, insider Susanne Chishti bought 57,890 shares of CAB Payments stock in a transaction on Wednesday, April 23rd. The shares were bought at an average cost of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,616.33). Company insiders own 64.28% of the company's stock.

CAB Payments Company Profile

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it's needed and is the holding company for Crown Agents Bank, a UK-regulated bank.