Renishaw (LON:RSW) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Renishaw plc (LON:RSW) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,436.65 and traded as high as GBX 3,750. Renishaw shares last traded at GBX 3,730, with a volume of 36,961 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group restated a “hold” rating on shares of Renishaw in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Renishaw presently has a consensus rating of “Hold” and a consensus price target of GBX 3,920.

Renishaw Price Performance

The company has a fifty day simple moving average of GBX 3,610.47 and a 200-day simple moving average of GBX 3,440.34. The company has a market cap of £2.71 billion, a P/E ratio of 32.34, a PEG ratio of 3.73 and a beta of 0.63. The company has a debt-to-equity ratio of 2.05, a current ratio of 5.81 and a quick ratio of 3.10.

Insider Activity at Renishaw

In related news, insider D John Deer sold 207,050 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of GBX 3,435, for a total value of £7,112,167.50. Also, insider Richard McMurtry sold 26,376,468 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of GBX 3,435, for a total transaction of £906,031,675.80. In the last 90 days, insiders have sold 26,926,468 shares of company stock valued at $92,492,417,580. 52.95% of the stock is owned by corporate insiders.

Renishaw Company Profile

We are a world leader in measuring and manufacturing systems.

Our products give high accuracy and precision, gathering data to provide customers and end users with traceability and confidence in what they’re making. This technology also helps our customers to innovate their products and processes.

We are guided by our purpose: Transforming Tomorrow Together. This means working with our customers to make the products and the materials that are going to be needed for the future.

We believe that our purpose is incredibly relevant in today’s environment where the pace of change in technology is faster than ever.