Renishaw (LON:RSW) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Renishaw plc (LON:RSW) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3,401.36 and traded as high as GBX 3,795. Renishaw shares last traded at GBX 3,725, with a volume of 1,535,126 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Renishaw from GBX 3,340 to GBX 3,940 and gave the company a “hold” rating in a report on Friday, October 10th. Shore Capital reissued a “hold” rating on shares of Renishaw in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 3,920.

Renishaw Stock Up 0.8%

The company has a quick ratio of 3.10, a current ratio of 5.81 and a debt-to-equity ratio of 2.05. The stock’s 50-day simple moving average is GBX 3,570.73 and its 200 day simple moving average is GBX 3,401.36. The firm has a market cap of £2.73 billion, a P/E ratio of 32.55, a PEG ratio of 3.73 and a beta of 0.63.

Insider Buying and Selling

In other news, insider Richard McMurtry sold 26,376,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of GBX 3,435, for a total transaction of £906,031,675.80. Also, insider D John Deer sold 207,050 shares of Renishaw stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of GBX 3,435, for a total transaction of £7,112,167.50. Over the last quarter, insiders sold 26,926,468 shares of company stock valued at $92,492,417,580. 52.95% of the stock is currently owned by corporate insiders.

Renishaw Company Profile

We are a world leader in measuring and manufacturing systems.

Our products give high accuracy and precision, gathering data to provide customers and end users with traceability and confidence in what they’re making. This technology also helps our customers to innovate their products and processes.

We are guided by our purpose: Transforming Tomorrow Together. This means working with our customers to make the products and the materials that are going to be needed for the future.

We believe that our purpose is incredibly relevant in today’s environment where the pace of change in technology is faster than ever.