Concurrent Technologies (LON:CNC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Concurrent Technologies Plc (LON:CNC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank began coverage on Concurrent Technologies in a research report on Wednesday, January 21st. They set a “buy” rating and a GBX 275 price target on the stock. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Concurrent Technologies presently has a consensus rating of “Buy” and an average price target of GBX 275.

Concurrent Technologies Trading Down 2.2%

The firm has a market capitalization of £221.67 million, a price-to-earnings ratio of 48.35 and a beta of 0.69. The company has a quick ratio of 1.86, a current ratio of 5.11 and a debt-to-equity ratio of 1.54. The firm’s 50 day moving average is GBX 233.08 and its 200 day moving average is GBX 218.77.

Insiders Place Their Bets

In other Concurrent Technologies news, insider Miles Adcock sold 103,377 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was 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 dated Monday, December 8th. The stock was sold at an average price of GBX 217, for a total transaction of £150,695.65. Insiders own 12.45% of the company’s stock.

About Concurrent Technologies

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.