NewRiver REIT (LON:NRR) Stock Price Crosses Below Two Hundred Day Moving Average After Insider Selling

Key Points

• NewRiver REIT's stock price has fallen below its 200-day moving average of GBX 72.93 following an insider sale by Will Hobman, who sold 66,339 shares at GBX 70 each.
• The company currently has a market cap of £302.46 million and a very high P/E ratio of 1,126.98, indicating potential overvaluation concerns.
• Despite recent sell-offs, Shore Capital has reiterated a "house stock" rating for NewRiver REIT, suggesting confidence in the company's long-term prospects.

NewRiver REIT plc (LON:NRR - Get Free Report) crossed below its 200-day moving average during trading on Wednesday after an insider sold shares in the company. The stock has a 200-day moving average of GBX 72.93 ($0.99) and traded as low as GBX 69.20 ($0.94). NewRiver REIT shares last traded at GBX 71 ($0.96), with a volume of 591,439 shares traded.

Specifically, insider Will Hobman sold 66,339 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of GBX 70, for a total transaction of £46,437.30.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a "house stock" rating on shares of NewRiver REIT in a report on Thursday, July 31st.

NewRiver REIT Trading Up 1.9%

The business's 50-day simple moving average is GBX 72.02 and its 200-day simple moving average is GBX 72.93. The company has a market cap of £302.46 million, a PE ratio of 1,126.98, a P/E/G 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.

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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