Corero Network Security (LON:CNS) Stock Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• Corero Network Security's stock price recently traded above its fifty-day moving average, reaching GBX 10.90 ($0.15), with a closing price of GBX 10.89 ($0.15).
• Canaccord Genuity Group reiterated a "buy" rating for Corero, setting a price target of GBX 19, indicating expected growth potential in the stock.
• Insider Chris Goulden purchased 220,264 shares at an average price of GBX 9, showcasing insider confidence, as 39.64% of the company's stock is held by insiders.

Corero Network Security plc (LON:CNS - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 10.08 ($0.13) and traded as high as GBX 10.90 ($0.15). Corero Network Security shares last traded at GBX 10.89 ($0.15), with a volume of 47,995 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 19 price objective on shares of Corero Network Security in a report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of GBX 19.

Corero Network Security Stock Up 1.3%

The stock has a market capitalization of £55.77 million, a price-to-earnings ratio of -3,630.00 and a beta of 0.46. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of GBX 10.08 and a two-hundred day moving average of GBX 13.31.

Insiders Place Their Bets

In other news, insider Chris Goulden bought 220,264 shares of the company's stock in a transaction on Friday, July 18th. The shares were bought at an average cost of GBX 9 per share, with a total value of £19,823.76. 39.64% of the stock is currently owned by 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.

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