Conduit (LON:CRE) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 417.39 ($5.62) and traded as low as GBX 384 ($5.17). Conduit shares last traded at GBX 387.74 ($5.22), with a volume of 494,067 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank restated a "buy" rating and set a GBX 700 ($9.42) price target on shares of Conduit in a research note on Monday, March 31st.

Conduit Stock Up 0.3%

The firm has a 50 day simple moving average of GBX 354.48 and a 200-day simple moving average of GBX 416.33. The company has a market cap of £751.92 million, a PE ratio of 3.53 and a beta of 0.52.

Insider Buying and Selling at Conduit

In related news, insider Neil David Eckert bought 1,650 shares of the business's stock in a transaction on Friday, May 16th. The shares were bought at an average price of GBX 369 ($4.97) per share, for a total transaction of £6,088.50 ($8,192.28). Also, insider Trevor Carvey purchased 70,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average price of GBX 340 ($4.57) per share, for a total transaction of £238,000 ($320,236.81). Insiders have purchased 163,916 shares of company stock worth $56,657,424 over the last quarter. Insiders own 6.19% of the company's stock.

About Conduit

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.