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

Pinewood Technologies Group logo with Consumer Cyclical background

Key Points

  • Pinewood Technologies Group's shares fell by 14.9% to GBX 450 ($6.09) amidst a trading volume that surged to 1,889,184 shares, significantly higher than its average daily volume.
  • Berenberg Bank upgraded the stock's target price from GBX 590 to GBX 700, maintaining a "buy" rating, which reflects a positive outlook despite the recent drop.
  • Company insiders have been active, purchasing a total of 18,612 shares in the last quarter, indicating confidence in the company's future performance.
  • Five stocks to consider instead of Pinewood Technologies Group.

Shares of Pinewood Technologies Group PLC (LON:PINE - Get Free Report) were down 14.9% during mid-day trading 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 mid-day trading, an increase of 628% from the average daily volume of 259,620 shares. The stock had previously closed at GBX 529 ($7.11).

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on Pinewood Technologies Group

Pinewood Technologies Group Price Performance

The business has a 50 day simple moving average of GBX 515 and a 200 day simple moving average of GBX 428. The company has a market capitalization of £515.16 million, a price-to-earnings ratio of 721.15 and a beta of 0.56.

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

Insiders Place Their Bets

In related news, insider Dietmar Exler acquired 1,050 shares of Pinewood Technologies Group stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of GBX 512 per share, for a total transaction of £5,376. Also, insider Oliver Mann acquired 10,023 shares of Pinewood Technologies Group stock in a transaction dated Monday, July 7th. The stock was bought at an average price of GBX 460 per share, for a total transaction of £46,105.80. Insiders have acquired 18,612 shares of company stock worth $8,653,964 over the last 90 days. 47.42% of the stock is owned by insiders.

Pinewood Technologies Group Company Profile

(Get Free Report)

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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