Chemring Group (LON:CHG) Shares Pass Above 200-Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 524.13 and traded as high as GBX 556. Chemring Group shares last traded at GBX 551.51, with a volume of 70,910,945 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their target price on shares of Chemring Group from GBX 640 to GBX 660 and gave the stock a “buy” rating in a research note on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Trading Up 1.0%

The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 40.39. The stock’s fifty day moving average price is GBX 519.45 and its two-hundred day moving average price is GBX 524.13. The company has a market capitalization of £1.48 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.99 and a beta of 0.87.

Insider Buying and Selling

In other Chemring Group news, insider James Mortensen sold 44,615 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of GBX 534, for a total value of £238,244.10. 1.25% of the stock is owned by insiders.

About Chemring Group

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.