Corero Network Security (LON:CNS) Share Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Shares of Corero Network Security briefly moved above its 50-day moving average, trading as high as GBX 13 (50‑day MA GBX 12.41) with the last trade at GBX 12.37 on volume 73,566.
• Analyst Canaccord Genuity raised its price target to GBX 20 and issued a "Buy" rating; MarketBeat shows a consensus Buy with an average target of GBX 20.
• Insider Carl Herberger bought 138,000 shares at GBX 13 and insiders own 39.67% of the stock, while the company remains a small-cap (£63.33m) with negative earnings (P/E -123.66) and a debt-to-equity of 2.47.

Shares of Corero Network Security plc (LON:CNS - Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 12.41 and traded as high as GBX 13. Corero Network Security shares last traded at GBX 12.37, with a volume of 73,566 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their price objective on Corero Network Security from GBX 19 to GBX 20 and gave the company a "buy" rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of GBX 20.

Corero Network Security Price Performance

The company has a market capitalization of £63.33 million, a price-to-earnings ratio of -123.66 and a beta of 0.46. The company's 50 day simple moving average is GBX 12.41 and its 200-day simple moving average is GBX 11.12. The company has a current ratio of 1.13, a quick ratio of 1.20 and a debt-to-equity ratio of 2.47.

Insider Activity

In other news, insider Carl Herberger purchased 138,000 shares of the firm's stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of GBX 13 per share, with a total value of £17,940. 39.67% of the stock is owned by corporate insiders.

About Corero Network Security

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero's award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero's industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available.

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