Corero Network Security (LON:CNS) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Technical breakout: Shares crossed above the 50‑day moving average, trading as high as GBX 12.50 and last at GBX 12.29 versus a 50‑day MA of GBX 12.28 (200‑day MA GBX 10.70).
• Analyst endorsement: Canaccord Genuity reissued a "Buy" rating with a GBX 19 price target, and MarketBeat shows a consensus "Buy" with an average target of GBX 19.
• Insider buying: Insider Carl Herberger purchased 138,000 shares at GBX 13 on Feb 3, and insiders collectively own 39.67% of the company.

Shares of Corero Network Security plc (LON:CNS - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 12.28 and traded as high as GBX 12.50. Corero Network Security shares last traded at GBX 12.29, with a volume of 32,725 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 19 price target on shares of Corero Network Security in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Corero Network Security has a consensus rating of "Buy" and an average price target of GBX 19.

Corero Network Security Price Performance

The company has a fifty day moving average of GBX 12.28 and a 200-day moving average of GBX 10.70. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 3.14. The stock has a market cap of £62.95 million, a PE ratio of -40.97 and a beta of 0.46.

Insiders Place Their Bets

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

Corero Network Security Company Profile

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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