Foresight Group (LON:FSG) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Foresight Group shares crossed above their 50-day moving average, reaching GBX 470 before last trading at GBX 466.50, compared with a 50-day average of GBX 463.29.
• Analysts remain broadly positive: three rate the stock a Buy and one a Hold, producing a Moderate Buy consensus and average price target of GBX 620. Individual targets range from GBX 580 to GBX 720.
• Insider John Le Poidevin bought 19,875 shares for nearly £100,000, while insiders collectively own 33.8% of the company.

Foresight Group Holdings Limited (LON:FSG - Get Free Report)'s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 463.29 and traded as high as GBX 470. Foresight Group shares last traded at GBX 466.50, with a volume of 17,683,238 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and set a GBX 580 price target on shares of Foresight Group in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Foresight Group from GBX 675 to GBX 700 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Finally, Berenberg Bank reaffirmed a "buy" rating and set a GBX 720 target price on shares of Foresight Group in a research note on Thursday, October 8th. Three 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of GBX 620.

Foresight Group Stock Down 0.2%

The firm has a fifty day moving average price of GBX 463.29 and a two-hundred day moving average price of GBX 432.30. The stock has a market capitalization of £514.89 million, a P/E ratio of 12.34 and a beta of 0.61.

Insider Buying and Selling

In other news, insider John Le Poidevin acquired 19,875 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of GBX 503 per share, with a total value of £99,971.25. Company insiders own 33.80% of the company's stock.

About Foresight Group

Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia. With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change. Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies. A constituent of the FTSE 250 index, Foresight's diversified investment strategies combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors.

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