NewRiver REIT (LON:NRR) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• NewRiver REIT shares fell below their 200-day moving average of GBX 73.16, trading as low as GBX 71.50 recently.
• Despite the decline, analysts from Jefferies Financial Group have maintained a "buy" rating with a target price of GBX 90.
• Insider Will Hobman sold 66,339 shares at an average price of GBX 70, indicating some level of insider selling activity.

NewRiver REIT plc (LON:NRR - Get Free Report) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 73.16 ($0.98) and traded as low as GBX 71.50 ($0.96). NewRiver REIT shares last traded at GBX 71.80 ($0.96), with a volume of 708,535 shares.

Wall Street Analyst Weigh In

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

NewRiver REIT Trading Down 0.6%

The company has a market capitalization of £305.86 million, a PE ratio of 1,139.68, a PEG ratio of -3.14 and a beta of 1.10. The company has a current ratio of 5.48, a quick ratio of 3.00 and a debt-to-equity ratio of 90.77. The stock has a fifty day moving average of GBX 71.82 and a two-hundred day moving average of GBX 73.16.

Insider Buying and Selling

In other NewRiver REIT news, insider Will Hobman sold 66,339 shares of NewRiver REIT stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of GBX 70, for a total value of £46,437.30. 2.51% of the stock is owned by company insiders.

NewRiver REIT Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.