Pinewood Technologies Group (LON:PINE) Trading 23.4% Higher – Should You Buy?

Shares of Pinewood Technologies Group PLC (LON:PINE) were up 23.4% during mid-day trading on Friday . The company traded as high as GBX 495 and last traded at GBX 475.89. Approximately 2,901,054 shares changed hands during mid-day trading, an increase of 131% from the average daily volume of 1,255,414 shares. The stock had previously closed at GBX 385.50.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank boosted their price target on Pinewood Technologies Group from GBX 700 to GBX 725 and gave the stock a “buy” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 725.

Pinewood Technologies Group Price Performance

The company’s 50-day moving average price is GBX 357.75 and its two-hundred day moving average price is GBX 420.74. The company has a market capitalization of £544.92 million, a P/E ratio of 7.63 and a beta of 0.56.

Insiders Place Their Bets

In related news, insider William Berman acquired 13,921 shares of the business’s stock in a transaction on Monday, December 1st. The stock was purchased at an average cost of GBX 357 per share, for a total transaction of £49,697.97. 47.43% of the stock is currently owned by corporate insiders.

About Pinewood Technologies Group

Pendragon PLC is one of the UK’s leading automotive retailers with over 120 locations selling new and used vehicles alongside expert aftercare services.

Operating in the UK under the brands of Evans Halshaw, Stratstone and CarStore the Group also has additional businesses including Pinewood for dealership management systems, Pendragon Vehicle Management for fleet and leasing and Quickco for wholesale vehicle parts.

Please visit www.pendragonplc.com where Pendragon discloses additional information about the company, its business and its results of operations.