Centrica (LON:CNA) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• Centrica shares fell below their 50-day moving average, reaching GBX 149.90 compared with the GBX 150.23 average, amid trading volume of more than 11 million shares.
• Berenberg lowered its price target from GBX 230 to GBX 200 but maintained a “buy” rating. Analysts collectively give Centrica a “Moderate Buy” rating, with a consensus target of GBX 217.60.
• Company insiders continued buying shares, acquiring more than 210,000 shares during the quarter, including purchases by executives Kevin O'Byrne and Chris O’Shea at GBX 148 per share.

Centrica plc (LON:CNA - Get Free Report) shares crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of GBX 150.23 and traded as low as GBX 149.90. Centrica shares last traded at GBX 149.90, with a volume of 11,082,666 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank decreased their price objective on Centrica from GBX 230 to GBX 200 and set a "buy" rating for the company in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 217.60.

Centrica Price Performance

The company has a market cap of £6.99 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.45 and a beta of 0.32. The company has a current ratio of 1.43, a quick ratio of 0.40 and a debt-to-equity ratio of 80.68. The company's 50 day moving average price is GBX 150.23 and its 200 day moving average price is GBX 178.32.

Insider Buying and Selling at Centrica

In other news, insider Kevin O'Byrne acquired 68,000 shares of Centrica stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of GBX 148 per share, for a total transaction of £100,640. Also, insider Chris O’Shea acquired 68,055 shares of the stock in a transaction on Monday, September 21st. The stock was acquired at an average cost of GBX 148 per share, for a total transaction of £100,721.40. Over the last quarter, insiders acquired 210,152 shares of company stock valued at $31,121,550. Insiders own 0.39% of the company's stock.

Centrica Company Profile

Centrica is energising a greener, fairer future for our colleagues, customers and communities. Our integrated business operates across the energy value chain, with over ten million Retail customers, leading brands such as British Gas and Bord Gáis Energy, and the UK's largest energy services workforce. Our Infrastructure businesses bring gas and electricity to the market every day and provide more than half of the UK's gas storage capacity, while our Optimisation business delivers world-class procurement and route-to-market capabilities to the Group and third parties, supporting energy security and our customers' decarbonisation journeys.

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