Trifast (LON:TRI) Stock Crosses Below 200 Day Moving Average – Here’s Why

Trifast plc (LON:TRI) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 71.73 and traded as low as GBX 64. Trifast shares last traded at GBX 64.22, with a volume of 186,334 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 130 target price on shares of Trifast in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Trifast currently has a consensus rating of “Buy” and a consensus price target of GBX 135.

Trifast Stock Performance

The company has a 50 day simple moving average of GBX 65.42 and a 200-day simple moving average of GBX 71.73. The company has a debt-to-equity ratio of 69.36, a current ratio of 3.82 and a quick ratio of 1.78. The stock has a market capitalization of £86.69 million, a P/E ratio of 73.82 and a beta of 0.66.

Insider Buying and Selling

In other news, insider Clive Watson acquired 973 shares of Trifast stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average price of GBX 71 per share, with a total value of £690.83. Also, insider Iain Percival bought 4,621 shares of the stock in a transaction on Thursday, April 16th. The stock was purchased at an average price of GBX 68 per share, for a total transaction of £3,142.28. 20.57% of the stock is currently owned by company insiders.

Trifast Company Profile

About Trifast
In 2023, TR celebrated 50 years of business with a proud heritage of serving customers with engineered fastening supply chain solutions; Our skills lie in the design, engineering, manufacture, and distribution of high-quality engineered fastenings and Category ‘C’ components principally for major global assembly industries.

As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate manufacturing facilities focused on high volume cold forged fasteners and special parts.