Eleco (LON:ELCO) Stock Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Eleco (LON:ELCO) crossed below its 50‑day moving average (50‑day MA GBX 126.29), trading as low as GBX 124 with last trade GBX 126.50 on volume 170,019, while its 200‑day MA sits at GBX 135.39, indicating near‑term technical weakness.
• Despite the dip, Canaccord Genuity upgraded Eleco to a Buy and raised the price target from GBX 176 to GBX 196, with a consensus analyst target of GBX 196; the company has a market cap of £105.29M and a P/E of 28.11.

Eleco Plc (LON:ELCO - Get Free Report) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 126.29 and traded as low as GBX 124. Eleco shares last traded at GBX 126.50, with a volume of 170,019 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their price objective on shares of Eleco from GBX 176 to GBX 196 and gave the company a "buy" rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of GBX 196.

Eleco Price Performance

The company has a fifty day simple moving average of GBX 126.29 and a 200-day simple moving average of GBX 135.39. The company has a market cap of £105.29 million, a P/E ratio of 28.11 and a beta of 0.66. The company has a debt-to-equity ratio of 4.30, a current ratio of 0.90 and a quick ratio of 1.23.

Eleco Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.