Chemring Group (LON:CHG) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Chemring Group PLC's stock price has surpassed its 200-day moving average, trading as high as GBX 614 ($8.38) before settling at GBX 599 ($8.18).
• Berenberg Bank has maintained a "buy" rating with a target price of GBX 670, contributing to an average buy rating and target of GBX 570 across analysts.
• Insider transactions reveal that corporate insider Pete Raby purchased 6,000 shares at GBX 544, amounting to a total investment of £32,640.

Chemring Group PLC (LON:CHG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 481.24 ($6.48) and traded as high as GBX 614 ($8.27). Chemring Group shares last traded at GBX 599 ($8.07), with a volume of 2,907,619 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a "buy" rating and issued a GBX 670 target price on shares of Chemring Group in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemring Group presently has a consensus rating of "Buy" and an average target price of GBX 570.

Chemring Group Stock Performance

The company has a debt-to-equity ratio of 27.42, a quick ratio of 0.71 and a current ratio of 1.22. The stock's 50-day moving average price is GBX 547.09 and its 200-day moving average price is GBX 484.55. The company has a market capitalization of £1.52 billion, a price-to-earnings ratio of 3,575.95, a P/E/G ratio of 1.99 and a beta of 0.68.

Insider Buying and Selling at Chemring Group

In other Chemring Group news, insider Pete Raby acquired 6,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was acquired at an average cost of GBX 544 per share, with a total value of £32,640. 1.17% of the stock is currently owned by company insiders.

About Chemring Group

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.