NewRiver REIT (LON:NRR) Share Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• NewRiver REIT (LON:NRR) share price has dropped below its 200-day moving average, trading at GBX 71.60, down from a moving average of GBX 73.25.
• A recent buy rating was reaffirmed by Jefferies Financial Group with a target price of GBX 90, while the stock maintains an average rating of "Buy" among analysts.
• Company insider Will Hobman sold 66,339 shares at an average price of GBX 70, indicating some insider activity amid market fluctuations.

NewRiver REIT plc (LON:NRR - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 73.25 ($0.98) and traded as low as GBX 69.70 ($0.93). NewRiver REIT shares last traded at GBX 71.60 ($0.96), with a volume of 3,511,086 shares.

Analyst Ratings Changes

Several brokerages have recently commented on NRR. Shore Capital reaffirmed a "house stock" rating on shares of NewRiver REIT in a research report on Thursday, July 31st. Jefferies Financial Group restated a "buy" rating and issued a GBX 90 price target on shares of NewRiver REIT in a report on Thursday, September 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of GBX 90.

NewRiver REIT Stock Performance

The company has a debt-to-equity ratio of 90.77, a current ratio of 5.48 and a quick ratio of 3.00. The company has a fifty day moving average price of GBX 71.74 and a 200 day moving average price of GBX 73.25. The stock has a market cap of £306.38 million, a P/E ratio of 11.40, a P/E/G ratio of -3.14 and a beta of 1.10.

Insider Buying and Selling

In other NewRiver REIT news, insider Will Hobman sold 66,339 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of GBX 70, for a total transaction of £46,437.30. Company insiders own 2.53% of the company's stock.

About NewRiver REIT

NewRiver is a leading Real Estate Investment Trust specialising in buying, managing and developing retail and leisure assets across the UK. Every day, our shopping centres, retail parks and pubs provide essential goods and services to their local communities.

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