Chemring Group (LON:CHG) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Chemring Group PLC (LON:CHGGet Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 494.52 ($6.65) and traded as high as GBX 595 ($8.00). Chemring Group shares last traded at GBX 589.07 ($7.92), with a volume of 885,411 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 670 target price on shares of Chemring Group in a report on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 570.

Read Our Latest Research Report on Chemring Group

Chemring Group Stock Down 0.2%

The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 27.42. The stock has a market cap of £1.59 billion, a P/E ratio of 3,728.32, a P/E/G ratio of 1.99 and a beta of 0.68. The company has a 50-day simple moving average of GBX 549.83 and a two-hundred day simple moving average of GBX 494.52.

Insiders Place Their Bets

In other news, insider Pete Raby purchased 6,000 shares of Chemring Group stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of GBX 544 per share, with a total value of £32,640. 1.17% of the stock is currently owned by insiders.

About Chemring Group

(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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