Plus500 (LON:PLUS) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Plus500 Ltd. (LON:PLUS)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,201.69 ($42.99) and traded as low as GBX 3,114 ($41.81). Plus500 shares last traded at GBX 3,192 ($42.86), with a volume of 88,664 shares trading hands.

Analyst Ratings Changes

PLUS has been the topic of a number of research analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 3,400 target price on shares of Plus500 in a research report on Monday, August 11th. Liberum Capital raised their price target on shares of Plus500 from GBX 3,650 to GBX 3,750 and gave the company a “buy” rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Plus500 currently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,304.67.

Plus500 Stock Up 0.4%

The company’s 50 day moving average price is GBX 3,122.29 and its 200-day moving average price is GBX 3,201.69. The stock has a market cap of £2.24 billion, a P/E ratio of 886.67, a P/E/G ratio of 0.24 and a beta of 0.20.

Plus500 declared that its Board of Directors has authorized a share repurchase program on Monday, August 11th that permits the company to buyback $90.00 million in shares. This buyback authorization permits the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Plus500 Company Profile

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.