Plus500 (LON:PLUS) Stock Passes Below 200 Day Moving Average – Here’s Why

Plus500 Ltd. (LON:PLUS)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 3,099.85 ($41.71) and traded as low as GBX 3,078 ($41.42). Plus500 shares last traded at GBX 3,128 ($42.09), with a volume of 826,643 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. Peel Hunt reissued a “buy” rating and issued a GBX 3,400 price target on shares of Plus500 in a research note on Monday, August 11th. Canaccord Genuity Group lifted their price target on Plus500 from GBX 2,650 to GBX 2,764 and gave the company a “hold” rating in a research note on Wednesday, April 30th. Finally, Liberum Capital lifted their price target on Plus500 from GBX 3,650 to GBX 3,750 and gave the company a “buy” rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,304.67.

Plus500 Price Performance

The business has a 50-day moving average of GBX 3,314.17 and a 200-day moving average of GBX 3,099.85. The firm has a market cap of £2.80 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.24 and a beta of 0.20.

Plus500 announced that its board has initiated a share repurchase plan on Monday, August 11th that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

About Plus500

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.