Naked Wines (LON:WINE) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Naked Wines plc (LON:WINE) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 72.95 and traded as low as GBX 68.20. Naked Wines shares last traded at GBX 69.40, with a volume of 146,804 shares.

Naked Wines Stock Up 3.6%

The stock has a market cap of £48.15 million, a price-to-earnings ratio of -34.24, a PEG ratio of 0.40 and a beta of 1.27. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 8.40. The stock has a fifty day moving average of GBX 72.95 and a two-hundred day moving average of GBX 72.86.

Naked Wines declared that its board has authorized a stock repurchase plan on Monday, March 23rd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Jack Pailing bought 26,250 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price of GBX 75 per share, for a total transaction of £19,687.50. Insiders own 18.63% of the company’s stock.

Naked Wines Company Profile

Naked Wines plc, together with its subsidiaries, engages in the retailing of wines and spirits in the United Kingdom, the United States, and Australia. The company offers its products online.