Pinewood Technologies Group (LON:PINE) Stock Price Down 14.9% - Here's Why

Key Points

• Pinewood Technologies Group's stock price dropped by 14.9% to GBX 450 ($6.05) on Wednesday, alongside a significant increase in trading volume, which rose to 1,889,184 shares.
• Berenberg Bank upgraded its price target for the stock from GBX 590 to 700 and maintains a "buy" rating, reflecting a positive outlook among some analysts.
• Despite the recent decline, Pinewood Technologies Group reports a net margin of 167.76% and anticipates earnings per share of approximately 9.83 for the current fiscal year.

Pinewood Technologies Group PLC (LON:PINE - Get Free Report)'s share price dropped 14.9% on Wednesday . The company traded as low as GBX 450 ($6.05) and last traded at GBX 450 ($6.05). Approximately 1,889,184 shares were traded during trading, an increase of 628% from the average daily volume of 259,620 shares. The stock had previously closed at GBX 529 ($7.11).

Analysts Set New Price Targets

Separately, Berenberg Bank increased their price target on Pinewood Technologies Group from GBX 590 to GBX 700 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Pinewood Technologies Group presently has an average rating of "Buy" and an average target price of GBX 700.

Pinewood Technologies Group Trading Down 14.9%

The firm has a market capitalization of £515.16 million, a PE ratio of 721.15 and a beta of 0.56. The firm has a 50-day moving average of GBX 515 and a two-hundred day moving average of GBX 428.

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%. Equities research analysts expect that Pinewood Technologies Group PLC will post 9.8256735 earnings per share for the current fiscal year.

Insider Transactions at Pinewood Technologies Group

In other Pinewood Technologies Group news, insider Dietmar Exler bought 1,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were acquired at an average cost of GBX 524 per share, with a total value of £5,240. Also, insider Oliver Mann bought 6,539 shares of the company's stock in a transaction dated Monday, July 7th. The shares were acquired at an average cost of GBX 456 per share, for a total transaction of £29,817.84. Over the last ninety days, insiders have bought 18,612 shares of company stock worth $8,653,964. Corporate insiders own 47.42% of the company's stock.

Pinewood Technologies Group Company Profile

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.

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.