Naked Wines (LON:WINE) Shares Cross Below 50-Day Moving Average – Here’s Why

Naked Wines plc (LON:WINE) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 73.58 and traded as low as GBX 72.20. Naked Wines shares last traded at GBX 75, with a volume of 21,399 shares.

Naked Wines Stock Performance

The company has a debt-to-equity ratio of 8.40, a quick ratio of 0.29 and a current ratio of 1.50. The business’s fifty day simple moving average is GBX 73.58 and its 200-day simple moving average is GBX 72.93. The firm has a market capitalization of £48.69 million, a PE ratio of -34.48, a price-to-earnings-growth ratio of 0.40 and a beta of 1.25.

Naked Wines announced that its Board of Directors has initiated a share repurchase plan on Monday, March 23rd that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Naked Wines

In related news, insider Jack Pailing acquired 26,250 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of GBX 75 per share, with a total value of £19,687.50. Over the last ninety days, insiders have purchased 102,750 shares of company stock worth $7,188,250. Company insiders own 17.93% of the company’s stock.

Naked Wines Company Profile

Naked Wines plc, together with its subsidiaries, engages in the retailing of wines and spirits in the United Kingdom, the United States, and Australia. The company offers its products online.