Plus500 (LON:PLUS) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Plus500 Ltd. (LON:PLUS) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 3,236.01 and traded as low as GBX 2,874. Plus500 shares last traded at GBX 2,914.22, with a volume of 7,851,623 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLUS. Liberum Capital raised their price objective on shares of Plus500 from GBX 3,650 to GBX 3,750 and gave the company a “buy” rating in a research note on Monday, August 11th. Peel Hunt reissued a “buy” rating and set a GBX 3,400 target price on shares of Plus500 in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Plus500 has an average rating of “Moderate Buy” and a consensus target price of GBX 3,304.67.

Plus500 Stock Performance

The firm has a market capitalization of £2.06 billion, a P/E ratio of 8.23, a PEG ratio of 0.24 and a beta of 0.20. The firm has a 50 day simple moving average of GBX 3,141.26 and a two-hundred day simple moving average of GBX 3,236.01.

Plus500 declared that its board has authorized a share repurchase plan on Monday, August 11th that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Plus500

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.