Castings (LON:CGS) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Castings crossed above its 50-day moving average, trading as high as GBX 268 and last at GBX 266 on a volume of 25,081 shares versus the 50-day MA of GBX 251.78.
• Insider Adam Vicary purchased 5,000 shares at GBX 220 on March 23 for £11,000, and company insiders now own 1.04% of the stock.
• The company has a market capitalization of £116.52 million, a P/E of 24.28, strong liquidity (current and quick ratios ~2.77), a debt-to-equity of 1.71, and a low beta of 0.36.

Castings P.L.C. (LON:CGS - ) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 251.78 and traded as high as GBX 268. Castings shares last traded at GBX 266, with a volume of 25,081 shares changing hands.

Castings Stock Up 0.8%

The company has a quick ratio of 2.76, a current ratio of 2.77 and a debt-to-equity ratio of 1.71. The company has a market capitalization of £116.52 million, a price-to-earnings ratio of 24.28 and a beta of 0.36. The stock's fifty day moving average price is GBX 251.78 and its 200-day moving average price is GBX 260.25.

Insider Activity

In other Castings news, insider Adam Vicary acquired 5,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of GBX 220 per share, for a total transaction of £11,000. 1.04% of the stock is owned by company insiders.

Castings Company Profile

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.

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