Bango (LON:BGO) Shares Climb 20.3% – Here’s Why

Shares of Bango PLC (LON:BGO) shot up 20.3% during trading on Friday. The company traded as high as GBX 74 and last traded at GBX 74. Approximately 572,060 shares traded hands during mid-day trading, an increase of 257% from the average daily volume of 160,374 shares. The stock had previously closed at GBX 61.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their target price on shares of Bango from GBX 181 to GBX 160 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Bango has an average rating of “Buy” and an average price target of GBX 160.

Bango Trading Up 20.3%

The company has a debt-to-equity ratio of 98.20, a current ratio of 0.67 and a quick ratio of 2.37. The firm’s fifty day moving average price is GBX 63.91 and its 200-day moving average price is GBX 64.01. The company has a market cap of £57.02 million, a price-to-earnings ratio of -7.51 and a beta of 0.67.

Insider Activity

In other Bango news, insider Duncan Magrath bought 25,000 shares of Bango stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average cost of GBX 72 per share, for a total transaction of £18,000. Also, insider Matt Wilson purchased 6,438 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average price of GBX 71 per share, for a total transaction of £4,570.98. 12.11% of the stock is currently owned by company insiders.

About Bango

Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers.

The world’s largest content providers, including Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) trust Bango technology to reach subscribers everywhere.

Bango, where people subscribe.