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

Key Points

• Chemring Group PLC shares have surpassed their 200-day moving average, indicating potential positive market sentiment, with current trading at GBX 548 ($7.35).
• Berenberg Bank has reiterated a "buy" rating for Chemring Group, setting a target price of GBX 670, with analysts suggesting a generally favorable outlook.
• Insider Pete Raby purchased 6,000 shares at GBX 544 each, indicating confidence in the company's future performance, as insiders hold 1.17% of the company's stock.

Chemring Group PLC (LON:CHG - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 511.55 ($6.86) and traded as high as GBX 549 ($7.36). Chemring Group shares last traded at GBX 548 ($7.35), with a volume of 687,307 shares traded.

Analyst Upgrades and Downgrades

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

Chemring Group Stock Performance

The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The firm has a market capitalization of £1.46 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.99 and a beta of 0.68. The firm's fifty day moving average is GBX 555.48 and its 200 day moving average is GBX 511.55.

Insiders Place Their Bets

In other Chemring Group news, insider Pete Raby acquired 6,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were purchased at an average price of GBX 544 per share, with a total value of £32,640. Insiders own 1.17% of the company's stock.

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.

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