Chemring Group (LON:CHG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Chemring Group PLC (LON:CHG) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 502.76 ($6.71) and traded as high as GBX 577 ($7.71). Chemring Group shares last traded at GBX 568 ($7.59), with a volume of 493,151 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 670 price target on shares of Chemring Group in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 570.

Chemring Group Stock Performance

The company has a debt-to-equity ratio of 27.42, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a 50 day moving average of GBX 554.51 and a 200-day moving average of GBX 502.76. The stock has a market capitalization of £1.53 billion, a PE ratio of 3,594.94, a P/E/G ratio of 1.99 and a beta of 0.68.

Insider Activity at Chemring Group

In other news, insider Pete Raby purchased 6,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was acquired at an average price of GBX 544 per share, with a total value of £32,640. Insiders own 1.17% of the company’s stock.

Chemring Group Company Profile

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers’ complex needs.

Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today’s increasingly unstable world.

We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success.

Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.