XBP Global (NASDAQ:XBP) Stock Price Down 3% – Here’s Why

XBP Global Holdings, Inc. (NASDAQ:XBP) was down 3% during mid-day trading on Thursday. The company traded as low as $2.84 and last traded at $2.96. Approximately 11,656 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 17,685 shares. The stock had previously closed at $3.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded XBP Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.00.

XBP Global Price Performance

The company has a debt-to-equity ratio of 7.59, a current ratio of 0.64 and a quick ratio of 0.60. The company has a 50-day simple moving average of $3.04 and a two-hundred day simple moving average of $2.85. The stock has a market capitalization of $36.53 million, a price-to-earnings ratio of -0.83 and a beta of -0.47.

XBP Global (NASDAQ:XBP) last posted its earnings results on Thursday, August 13th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.38). XBP Global had a net margin of 134.88% and a return on equity of 1,328.38%. The company had revenue of $191.31 million during the quarter, compared to the consensus estimate of $197.70 million.

Insider Buying and Selling

In other XBP Global news, CEO Andrej Jonovic bought 31,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $2.83 per share, for a total transaction of $89,145.00. Following the transaction, the chief executive officer directly owned 244,700 shares in the company, valued at $692,501. The trade was a 14.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Par Chadha bought 204,946 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average cost of $2.83 per share, for a total transaction of $579,997.18. Following the purchase, the director directly owned 204,946 shares in the company, valued at $579,997.18. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 245,279 shares of company stock worth $694,140. Corporate insiders own 31.40% of the company’s stock.

XBP Global Company Profile

XBP Global Holdings, Inc (NASDAQ:XBP) provides business process automation and digital transformation services to organizations across multiple industries. The company helps businesses modernize complex, document-intensive workflows by combining technology, process expertise and managed services.

Its solutions support functions such as accounts payable and receivable, invoice processing, electronic invoicing, payments, claims administration, document management and customer communications.