Pinewood Technologies Group (LON:PINE) Shares Up 22.7% – Here’s What Happened

Pinewood Technologies Group PLC (LON:PINE) shares traded up 22.7% during trading on Friday . The stock traded as high as GBX 495 and last traded at GBX 473. 3,275,565 shares changed hands during mid-day trading, an increase of 157% from the average session volume of 1,273,248 shares. The stock had previously closed at GBX 385.50.

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised their target price on Pinewood Technologies Group from GBX 700 to GBX 725 and gave the stock a “buy” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 725.

Pinewood Technologies Group Price Performance

The stock has a market cap of £540.34 million, a price-to-earnings ratio of 7.56 and a beta of 0.56. The firm has a fifty day moving average of GBX 357.75 and a 200 day moving average of GBX 420.74.

Insider Activity at Pinewood Technologies Group

In other news, insider William Berman purchased 13,921 shares of the stock in a transaction dated Monday, December 1st. The shares were purchased at an average price of GBX 357 per share, with a total value of £49,697.97. 47.43% of the stock is currently owned by corporate insiders.

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.

Please visit www.pendragonplc.com where Pendragon discloses additional information about the company, its business and its results of operations.