Eleco (LON:ELCO) Share Price Passes Below 50 Day Moving Average - What's Next?

Key Points

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Eleco Plc (LON:ELCO - Get Free Report)'s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 168.88 ($2.28) and traded as low as GBX 160 ($2.16). Eleco shares last traded at GBX 164 ($2.22), with a volume of 19,788 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group began coverage on shares of Eleco in a research note on Thursday, May 8th. They issued a "buy" rating and a GBX 176 price objective on the stock. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Eleco currently has an average rating of "Buy" and a consensus price target of GBX 176.

Eleco Price Performance

The stock has a market capitalization of £131.80 million, a P/E ratio of 44.78 and a beta of 0.82. The business's 50 day simple moving average is GBX 168 and its two-hundred day simple moving average is GBX 147.61. The company has a quick ratio of 1.23, a current ratio of 1.01 and a debt-to-equity ratio of 4.79.

Insider Transactions at Eleco

In other news, insider Mark Castle purchased 31,500 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average cost of GBX 162 per share, with a total value of £51,030. Also, insider James Pellatt purchased 6,052 shares of the company's stock in a transaction that occurred on Thursday, June 19th. The shares were purchased at an average cost of GBX 165 per share, for a total transaction of £9,985.80. Insiders have purchased 52,552 shares of company stock worth $8,496,580 over the last three months. 51.92% of the stock is owned by insiders.

Eleco Company Profile