Pinewood Technologies Group (LON:PINE) Shares Down 14.9% - Here's What Happened

Key Points

• Pinewood Technologies Group's shares plummeted by 14.9%, closing at GBX 450 ($6.09) after trading as low as GBX 450 during the day.
• Despite the drop, analyst Berenberg Bank raised its price target for the company from GBX 590 to GBX 700, maintaining a "buy" rating for the stock.
• Company insiders have been active in the market, purchasing a total of 18,612 shares in the last quarter, indicating confidence in the company's future performance.

Pinewood Technologies Group PLC (LON:PINE - Get Free Report)'s stock price traded down 14.9% on Wednesday . The stock traded as low as GBX 450 ($6.09) and last traded at GBX 450 ($6.09). 1,889,184 shares traded hands during mid-day trading, an increase of 628% from the average session volume of 259,620 shares. The stock had previously closed at GBX 529 ($7.15).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their target price on shares of Pinewood Technologies Group from GBX 590 to GBX 700 and gave the company a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 700.

Pinewood Technologies Group Price Performance

The firm has a market capitalization of £515.16 million, a price-to-earnings ratio of 721.15 and a beta of 0.56. The business's 50 day moving average price is GBX 515.95 and its 200-day moving average price is GBX 427.84.

Pinewood Technologies Group (LON:PINE - Get Free Report) last announced its quarterly earnings results on Wednesday, September 24th. The company reported GBX (0.70) earnings per share (EPS) for the quarter. Pinewood Technologies Group had a net margin of 167.76% and a return on equity of 11.83%. As a group, analysts expect that Pinewood Technologies Group PLC will post 9.8256735 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinewood Technologies Group

In other Pinewood Technologies Group news, insider Dietmar Exler acquired 1,050 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of GBX 512 per share, with a total value of £5,376. Also, insider Oliver Mann acquired 10,023 shares of the business's stock in a transaction dated Monday, July 7th. The shares were bought at an average price of GBX 460 per share, for a total transaction of £46,105.80. Insiders acquired a total of 18,612 shares of company stock valued at $8,653,964 over the last quarter. 47.42% of the stock is currently owned by insiders.

About Pinewood Technologies Group

Pendragon PLC is one of the UK's leading automotive retailers with over 120 locations selling new and used vehicles alongside expert aftercare services. Operating in the UK under the brands of Evans Halshaw, Stratstone and CarStore the Group also has additional businesses including Pinewood for dealership management systems, Pendragon Vehicle Management for fleet and leasing and Quickco for wholesale vehicle parts.

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