Eagle Eye Solutions Group (LON:EYE) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Eagle Eye Solutions Group shares have surpassed their 50-day moving average, trading at GBX 224 ($3.00) with a volume of 72,217 shares.
• The company has initiated a share buyback plan, indicating that management believes its stock may be undervalued.
• Insider Timothy J. R. Mason purchased 16,100 shares at an average price of GBX 230, demonstrating confidence in the company's prospects.

Eagle Eye Solutions Group plc (LON:EYE - Get Free Report) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 219.54 ($2.97) and traded as high as GBX 224 ($3.03). Eagle Eye Solutions Group shares last traded at GBX 224 ($3.03), with a volume of 72,217 shares.

Wall Street Analysts Forecast Growth

Separately, Shore Capital restated a "house stock" rating on shares of Eagle Eye Solutions Group in a report on Tuesday, July 15th.

Eagle Eye Solutions Group Trading Up 2.7%

The stock has a market capitalization of £68.87 million, a P/E ratio of 965.58 and a beta of 0.94. The company has a current ratio of 1.54, a quick ratio of 1.08 and a debt-to-equity ratio of 3.25. The stock's fifty day moving average price is GBX 220.87 and its two-hundred day moving average price is GBX 301.62.

Eagle Eye Solutions Group announced that its board has approved a share buyback plan on Tuesday, July 15th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Timothy J. R. Mason purchased 16,100 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was bought at an average cost of GBX 230 per share, for a total transaction of £37,030. 25.08% of the stock is owned by corporate insiders.

Eagle Eye Solutions Group Company Profile

Eagle Eye is a leading SaaS technology company transforming marketing by creating digital connections that enable personalised performance marketing in real time through coupons, loyalty, apps, subscriptions and gift services. Eagle Eye AIR enables the secure issuance and redemption of digital offers and rewards at scale, across multiple channels, enabling a single customer view.