Eleco (LON:ELCO) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Eleco Plc (LON:ELCO) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 143.59 and traded as low as GBX 132. Eleco shares last traded at GBX 132, with a volume of 61,714 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 176 target price on shares of Eleco in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Eleco currently has a consensus rating of “Buy” and an average target price of GBX 176.

Eleco Price Performance

The firm has a market capitalization of £109.88 million, a P/E ratio of 29.50 and a beta of 0.82. The stock’s 50 day simple moving average is GBX 143.31 and its 200 day simple moving average is GBX 155.90. The company has a debt-to-equity ratio of 4.79, a quick ratio of 1.23 and a current ratio of 1.01.

Eleco (LON:ELCO) last posted its quarterly earnings results on Tuesday, September 16th. The company reported GBX 2 earnings per share for the quarter. Eleco had a net margin of 9.46% and a return on equity of 10.50%. As a group, analysts expect that Eleco Plc will post 6 earnings per share for the current fiscal year.

About Eleco