CAB Payments (LON:CABP) Trading 18.9% Higher - Time to Buy?

CAB Payments Holdings Limited (LON:CABP - Get Free Report) rose 18.9% during mid-day trading on Wednesday . The stock traded as high as GBX 55 ($0.75) and last traded at GBX 54.70 ($0.75). Approximately 2,140,292 shares traded hands 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).

Analyst Upgrades and Downgrades

CABP has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on CAB Payments from GBX 105 ($1.43) to GBX 99 ($1.35) and set a "speculative buy" rating on the stock in a research note on Thursday, March 13th. Shore Capital reaffirmed a "house stock" rating on shares of CAB Payments in a research report on Wednesday, June 4th.

CAB Payments Stock Performance

The company has a 50-day simple moving average of GBX 44.79 and a two-hundred day simple moving average of GBX 51.33. The firm has a market capitalization of £128.80 million and a P/E ratio of 6.64.

Insiders Place Their Bets

In other news, insider Susanne Chishti acquired 57,890 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average cost of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,384.91). 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.