M.P. Evans Group (LON:MPE) Shares Cross Above 200 Day Moving Average – Here’s Why

M.P. Evans Group PLC (LON:MPE)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,404.27 and traded as high as GBX 1,846. M.P. Evans Group shares last traded at GBX 1,814, with a volume of 49,879 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 1,750 target price on shares of M.P. Evans Group in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 1,750.

M.P. Evans Group Trading Up 0.3%

The company has a 50 day simple moving average of GBX 1,587.23 and a 200 day simple moving average of GBX 1,404.27. The stock has a market cap of £949.76 million, a P/E ratio of 8.59 and a beta of 0.34.

Insider Activity

In other M.P. Evans Group news, insider Tanya Ashton acquired 669 shares of the stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of GBX 1,493 per share, for a total transaction of £9,988.17. 8.70% of the stock is owned by company insiders.

About M.P. Evans Group

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).

The Group was founded by Matthew Pennefather Evans in the 1870s and its long history in tropical agriculture includes experience in tea and rubber plantations.