Eleco (LON:ELCO) Share Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• Eleco Plc's stock price surpassed its 50-day moving average of GBX 166.27 ($2.20), reaching a high of GBX 176.50 ($2.33) during trading.
• Analysts at Canaccord Genuity Group initiated coverage with a "buy" rating and a target price of GBX 176 ($2.32) for the stock.
• Insider transactions showed significant buying activity, with executives acquiring a total of 52,552 shares valued at approximately $8.5 million within the last quarter.

Eleco Plc (LON:ELCO - Get Free Report) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 166.27 ($2.21) and traded as high as GBX 176.50 ($2.35). Eleco shares last traded at GBX 173.48 ($2.31), with a volume of 1,023,551 shares trading hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group initiated coverage on shares of Eleco in a report on Thursday, May 8th. They set a "buy" rating and a GBX 176 ($2.34) price target for the company.

Eleco Stock Up 1.1%

The stock has a market cap of £145.73 million, a P/E ratio of 49.51 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.01 and a debt-to-equity ratio of 4.79. The business has a 50-day simple moving average of GBX 167.28 and a 200-day simple moving average of GBX 145.50.

Insider Activity at Eleco

In other Eleco news, insider James Pellatt acquired 6,052 shares of Eleco stock in a transaction dated Thursday, June 19th. The stock was bought at an average cost of GBX 165 ($2.19) per share, with a total value of £9,985.80 ($13,271.93). Also, insider Mark Castle acquired 31,500 shares of Eleco stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average cost of GBX 162 ($2.15) per share, with a total value of £51,030 ($67,822.97). Insiders bought 52,552 shares of company stock valued at $8,496,580 over the last three months. 51.92% of the stock is owned by company insiders.

About Eleco