Concurrent Technologies (LON:CNC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Concurrent Technologies Plc (LON:CNC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 236.64 and traded as high as GBX 265. Concurrent Technologies shares last traded at GBX 263.25, with a volume of 51,628 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNC. Berenberg Bank reiterated a “buy” rating and issued a GBX 275 price target on shares of Concurrent Technologies in a research note on Friday, May 1st. Stifel Nicolaus reissued a “buy” rating and set a GBX 250 price objective on shares of Concurrent Technologies in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Concurrent Technologies has a consensus rating of “Buy” and a consensus price target of GBX 262.50.

Concurrent Technologies Stock Performance

The company has a market capitalization of £239.14 million, a P/E ratio of 47.18 and a beta of 1.30. The company has a debt-to-equity ratio of 4.84, a current ratio of 3.64 and a quick ratio of 1.86. The company has a fifty day moving average price of GBX 242.67 and a two-hundred day moving average price of GBX 236.64.

Concurrent Technologies (LON:CNC) last released its quarterly earnings data on Monday, April 13th. The technology company reported GBX 5.86 earnings per share (EPS) for the quarter. The company had revenue of GBX 4,587 million during the quarter. Concurrent Technologies had a return on equity of 11.85% and a net margin of 11.03%. Equities analysts forecast that Concurrent Technologies Plc will post 6.1015119 earnings per share for the current fiscal year.

Concurrent Technologies Company Profile

Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest 9th generation embedded Intel® Core™ processors, Intel® Xeon® and Intel® Atom™ processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded Operating Systems.