CQS New City High Yield (LON:NCYF) Share Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• CQS New City High Yield (LON:NCYF) shares recently crossed above their 50-day moving average of GBX 51.55, trading as high as GBX 52.
• The company has a market capitalization of £327.01 million and a high PE ratio of 914.59, indicating potential overvaluation concerns.
• Insider Andrew Dann purchased 25,000 shares at an average price of GBX 52, suggesting confidence in the company's future performance.

CQS New City High Yield (LON:NCYF - Get Free Report)'s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 51.55 ($0.69) and traded as high as GBX 52 ($0.70). CQS New City High Yield shares last traded at GBX 51.40 ($0.69), with a volume of 1,690,533 shares traded.

CQS New City High Yield Trading Down 0.4%

The company has a current ratio of 0.33, a quick ratio of 2.43 and a debt-to-equity ratio of 12.80. The company has a 50-day simple moving average of GBX 51.55 and a 200 day simple moving average of GBX 51.21. The firm has a market cap of £327.01 million, a PE ratio of 914.59 and a beta of 0.46.

Insider Buying and Selling

In related news, insider Andrew Dann acquired 25,000 shares of the stock in a transaction on Friday, June 27th. The shares were acquired at an average price of GBX 52 per share, for a total transaction of £13,000. Corporate insiders own 1.05% of the company's stock.

About CQS New City High Yield

CQS New City High Yield Fund Limited aims to provide investors with a high dividend yield and the potential for capital growth by investing in high-yielding, fixed interest securities. These include, but are not limited to, preference shares, loan stocks, corporate bonds (convertible and/or redeemable) and government stocks.