Concurrent Technologies (LON:CNC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Concurrent Technologies Plc (LON:CNC)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 218.77 and traded as high as GBX 262.94. Concurrent Technologies shares last traded at GBX 254.82, with a volume of 94,325 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank began coverage on shares of Concurrent Technologies in a research report on Wednesday, January 21st. They set a “buy” rating and a GBX 275 price target for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Concurrent Technologies presently has a consensus rating of “Buy” and a consensus price target of GBX 275.

Concurrent Technologies Stock Down 2.2%

The firm has a market capitalization of £221.67 million, a PE ratio of 48.35 and a beta of 0.69. The stock has a 50-day simple moving average of GBX 233.08 and a 200-day simple moving average of GBX 218.77. The company has a quick ratio of 1.86, a current ratio of 5.11 and a debt-to-equity ratio of 1.54.

Insider Activity

In related news, insider Miles Adcock sold 103,377 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of GBX 242, for a total transaction of £250,172.34. Also, insider Brent Salgat sold 69,445 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of GBX 217, for a total transaction of £150,695.65. Company insiders own 12.45% of the company’s stock.

Concurrent Technologies Company Profile

Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest 9th generation embedded Intel® Core™ processors, Intel® Xeon® and Intel® Atom™ processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded Operating Systems.