Pinewood Technologies Group (LON:PINE) Trading 22.4% Higher – What’s Next?

Shares of Pinewood Technologies Group PLC (LON:PINE) were up 22.4% during mid-day trading on Saturday . The company traded as high as GBX 495 and last traded at GBX 472. Approximately 4,402,359 shares were traded during mid-day trading, an increase of 232% from the average daily volume of 1,326,905 shares. The stock had previously closed at GBX 385.50.

Pinewood Technologies Group News Summary

Here are the key news stories impacting Pinewood Technologies Group this week:

• Positive Sentiment: Confirmation of takeover talks with Apax implies a potential near-term takeover at about £5 per share, which represents a premium to yesterday’s market price and is the primary driver of the share price increase. Pinewood.AI Confirms Talks With Apax
• Neutral Sentiment: Trading volume has spiked well above the average, signaling heavy investor interest and greater intra-day volatility; technicals show the stock trading between its 50-day (GBX 357.75) and 200-day (GBX 420.74) moving averages. (P/E ~7.6; 12?month range GBX 284.5–575.)
• Negative Sentiment: Talks are preliminary and non-binding — there is no certainty a firm offer will be made, terms could change, or talks could collapse, leaving the stock to revert to pre-news levels; any regulatory or financing hurdles could also derail a deal.

Wall Street Analyst Weigh In

Separately, Berenberg Bank upped their price target on Pinewood Technologies Group from GBX 700 to GBX 725 and gave the stock a “buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 725.

Pinewood Technologies Group Price Performance

The business has a fifty day moving average of GBX 360.33 and a 200 day moving average of GBX 420.64. The stock has a market cap of £540.34 million, a PE ratio of 7.56 and a beta of 0.56.

Insider Activity at Pinewood Technologies Group

In related news, insider William Berman purchased 13,921 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average price of GBX 357 per share, with a total value of £49,697.97. Company insiders own 47.43% of the company’s stock.

About Pinewood Technologies Group

Pendragon PLC is one of the UK’s leading automotive retailers with over 120 locations selling new and used vehicles alongside expert aftercare services.

Operating in the UK under the brands of Evans Halshaw, Stratstone and CarStore the Group also has additional businesses including Pinewood for dealership management systems, Pendragon Vehicle Management for fleet and leasing and Quickco for wholesale vehicle parts.

Please visit www.pendragonplc.com where Pendragon discloses additional information about the company, its business and its results of operations.