Chemring Group (LON:CHG) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

by · The Cerbat Gem

Chemring Group PLC (LON:CHG – Get Free Report)’s stock price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 539.41 and traded as low as GBX 531. Chemring Group shares last traded at GBX 535, with a volume of 422,846 shares changing hands.

Wall Street Analysts Forecast Growth

CHG has been the subject of a number of recent analyst reports. Berenberg Bank boosted their price target on shares of Chemring Group from GBX 590 to GBX 660 and gave the company a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 650 price objective on shares of Chemring Group in a research note on Friday, June 26th. Jefferies Financial Group restated a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a research report on Friday, July 31st. Finally, Royal Bank Of Canada upped their target price on Chemring Group from GBX 580 to GBX 680 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Chemring Group has a consensus rating of “Buy” and a consensus target price of GBX 637.

Check Out Our Latest Stock Report on CHG

Chemring Group Stock Up 1.5%

The stock’s fifty day moving average price is GBX 570.61 and its 200 day moving average price is GBX 539.41. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32. The stock has a market cap of £1.48 billion, a P/E ratio of 44.35, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80.

Insiders Place Their Bets

In other Chemring Group news, insider Sarah Ellard sold 57,597 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of GBX 602, for a total transaction of £346,733.94. Also, insider Michael Ord sold 200,000 shares of Chemring Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of GBX 612, for a total value of £1,224,000. 1.17% of the stock is owned by corporate insiders.

Chemring Group Company Profile

(Get Free Report)

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.

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