Corero Network Security (LON:CNS) Trading Up 20% After Analyst Upgrade

Corero Network Security plc (LON:CNS)’s stock price shot up 20% during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from GBX 20 to GBX 21. Canaccord Genuity Group currently has a buy rating on the stock. Corero Network Security traded as high as GBX 10.90 and last traded at GBX 10.20. 6,155,187 shares were traded during trading, an increase of 1,421% from the average daily volume of 404,803 shares. The stock had previously closed at GBX 8.50.

Corero Network Security Price Performance

The company has a market capitalization of £52.26 million, a P/E ratio of -102.03 and a beta of 0.46. The company has a quick ratio of 1.20, a current ratio of 1.13 and a debt-to-equity ratio of 2.47. The business has a 50 day simple moving average of GBX 8.38 and a 200-day simple moving average of GBX 10.60.

About Corero Network Security

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero’s award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero’s industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available.