Filtronic (LON:FTC) Stock Price Down 8.1% – Here’s Why

Filtronic plc (LON:FTC) fell 8.1% during trading on Thursday . The stock traded as low as GBX 430 and last traded at GBX 431. 9,214,551 shares changed hands during mid-day trading, an increase of 216% from the average session volume of 2,911,722 shares. The stock had previously closed at GBX 469.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 213 target price on shares of Filtronic in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 213.

Filtronic Price Performance

The company has a market capitalization of £890.77 million, a P/E ratio of 97.59 and a beta of 0.95. The business’s 50-day simple moving average is GBX 256.40 and its 200 day simple moving average is GBX 197.70. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02.

Insider Buying and Selling

In related news, insider Michael Tyerman sold 240,631 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total value of £493,293.55. Also, insider Pete Magowan sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total transaction of £205,000. Insiders have sold 405,782 shares of company stock worth $85,726,199 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

About Filtronic

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today’s data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.