Solid State (LON:SOLI) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Solid State plc (LON:SOLI)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 190.16 and traded as high as GBX 196. Solid State shares last traded at GBX 190, with a volume of 35,118 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank boosted their price objective on Solid State from GBX 245 to GBX 275 and gave the company a “buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 275.

Solid State Trading Down 2.6%

The firm’s 50 day moving average is GBX 189.68 and its 200 day moving average is GBX 176.58. The company has a market cap of £106.09 million, a PE ratio of 26.34 and a beta of 0.86. The company has a debt-to-equity ratio of 25.35, a current ratio of 2.29 and a quick ratio of 0.98.

Solid State (LON:SOLI) last posted its earnings results on Monday, June 29th. The company reported GBX 11.10 earnings per share (EPS) for the quarter. Solid State had a net margin of 2.65% and a return on equity of 6.51%. On average, equities analysts anticipate that Solid State plc will post 13.6195996 earnings per share for the current year.

About Solid State

Solid State plc (AIM:SOLI) is a leading value-added electronics group supplying commercial, industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State’s products are found around the world, from the ocean floor to the edge of space, ensuring the smooth operation of systems that augment our everyday lives.

The company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.

Operating through two divisions (systems and components) the group thrives on complex engineering challenges, often requiring design-in support and component sourcing.