Chemring Group (LON:CHG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Chemring Group PLC (LON:CHG) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 511.55 ($6.86) and traded as high as GBX 549 ($7.36). Chemring Group shares last traded at GBX 548 ($7.35), with a volume of 687,307 shares trading hands.

Analyst Ratings Changes

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

Chemring Group Stock Performance

The company has a market cap of £1.46 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 27.42. The stock’s 50-day moving average price is GBX 555.48 and its 200 day moving average price is GBX 511.55.

Insider Activity at Chemring Group

In other news, insider Pete Raby purchased 6,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were bought at an average price of GBX 544 per share, with a total value of £32,640. 1.17% of the stock is currently owned by corporate insiders.

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.