Concurrent Technologies (LON:CNC) Stock Price Passes 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 Wednesday . The stock has a two hundred day moving average of GBX 227.63 and traded as high as GBX 275. Concurrent Technologies shares last traded at GBX 272.11, with a volume of 556,016 shares traded.

Wall Street Analyst Weigh In

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

Concurrent Technologies Stock Performance

The company has a market capitalization of £237.03 million, a price-to-earnings ratio of 51.70 and a beta of 0.69. The company has a debt-to-equity ratio of 1.54, a current ratio of 5.11 and a quick ratio of 1.86. The stock has a 50 day simple moving average of GBX 244 and a two-hundred day simple moving average of GBX 227.63.

Insider Buying and Selling at Concurrent Technologies

In related news, insider Brent Salgat sold 69,445 shares of the business’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.

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.