Pinewood Technologies Group (LON:PINE) Trading Down 14.9% - Should You Sell?

Key Points

• Pinewood Technologies Group shares experienced a significant drop of 14.9%, trading at GBX 450 ($6.05) as of Thursday, with trading volume increasing by 628% compared to the average.
• Berenberg Bank upgraded Pinewood's target price from GBX 590 to GBX 700, maintaining a "buy" rating, contributing to a consensus rating of "buy" among analysts.
• Insider purchases indicate confidence, with insiders acquiring 18,612 shares worth approximately $8.6 million over the last ninety days, bringing their total ownership to 47.42% of the company.

Pinewood Technologies Group PLC (LON:PINE - Get Free Report) shares dropped 14.9% during mid-day trading on Thursday . The stock 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).

Wall Street Analysts Forecast Growth

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

Pinewood Technologies Group Trading Down 2.6%

The business's 50 day moving average price is GBX 515 and its two-hundred day moving average price is GBX 428. The stock has a market cap of £501.78 million, a P/E ratio of 702.44 and a beta of 0.56.

Pinewood Technologies Group (LON:PINE - Get Free Report) last announced its earnings results on Wednesday, September 24th. The company reported GBX (0.70) earnings per share 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 year.

Insider Activity at Pinewood Technologies Group

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

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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