Elementis (LON:ELM) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Elementis plc (LON:ELM) shares have recently crossed above their 200-day moving average, with the stock currently trading at GBX 165.40 ($2.23).
• JPMorgan Chase & Co. has downgraded Elementis to a "neutral" rating, while the stock maintains a "Moderate Buy" average rating with a target price of GBX 170.
• Insider trading activity includes a purchase of 30,000 shares by Trudy Schoolenberg and a sale of 41,276 shares by Luc van Ravenstein, indicating mixed insider sentiment.

Shares of Elementis plc (LON:ELM - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 147.93 ($1.99) and traded as high as GBX 167.80 ($2.26). Elementis shares last traded at GBX 165.40 ($2.23), with a volume of 2,695,048 shares changing hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut Elementis to a "neutral" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Elementis currently has an average rating of "Moderate Buy" and an average price target of GBX 170.

Elementis Trading Down 1.1%

The firm has a market cap of £1.21 billion, a P/E ratio of -34.71, a P/E/G ratio of 3.05 and a beta of 2.02. The company has a debt-to-equity ratio of 37.85, a quick ratio of 1.16 and a current ratio of 2.04. The firm has a fifty day moving average of GBX 165.99 and a 200-day moving average of GBX 147.93.

Insiders Place Their Bets

In related news, insider Trudy Schoolenberg bought 30,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of GBX 172 per share, for a total transaction of £51,600. Also, insider Luc van Ravenstein sold 41,276 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of GBX 153, for a total transaction of £63,152.28. 4.16% of the stock is owned by corporate insiders.

Elementis Company Profile

Elementis is a global specialty chemicals company. We offer performance-driven additives that help create innovative formulations for consumer and industrial applications. As a FTSE 250 company, listed on the London Stock Exchange, we employ c.1,030 people globally. We have a nearly 200-year tradition of creating ingredients that add value to everyday consumer and industrial products.

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