Chemring Group (LON:CHG) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of Chemring Group PLC rose above its two hundred day moving average, reaching a trading high of GBX 595 ($8.00) before closing at GBX 589.07 ($7.92).
• Wall Street analysts remain positive, with Berenberg Bank reaffirming a "buy" rating and setting a price target of GBX 670, contributing to a consensus price target of GBX 570.
• Insider activity includes Pete Raby purchasing 6,000 shares at an average cost of GBX 544, indicating confidence in the company's future performance.

Shares of Chemring Group PLC (LON:CHG - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 494.52 ($6.65) and traded as high as GBX 595 ($8.00). Chemring Group shares last traded at GBX 589.07 ($7.92), with a volume of 885,411 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 670 price target on shares of Chemring Group in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 570.

Chemring Group Price Performance

The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 27.42. The business's 50 day simple moving average is GBX 549.83 and its 200-day simple moving average is GBX 494.52. The stock has a market capitalization of £1.59 billion, a price-to-earnings ratio of 3,728.32, a P/E/G ratio of 1.99 and a beta of 0.68.

Insider Activity at Chemring Group

In other Chemring Group news, insider Pete Raby bought 6,000 shares of the stock in a transaction dated Monday, September 8th. The shares were bought at an average cost of GBX 544 per share, for a total transaction of £32,640. 1.17% of the stock is owned by insiders.

Chemring Group Company Profile

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers' complex needs. Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today's increasingly unstable world. We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success. Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.

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