Naked Wines (LON:WINE) Shares Cross Below 50-Day Moving Average – Here’s Why

Naked Wines plc (LON:WINE)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 73.58 and traded as low as GBX 72.20. Naked Wines shares last traded at GBX 75, with a volume of 21,399 shares traded.

Naked Wines Trading Down 2.3%

The company has a market cap of £48.69 million, a P/E ratio of -34.48, a PEG ratio of 0.40 and a beta of 1.25. The stock’s 50 day moving average is GBX 73.58 and its 200-day moving average is GBX 72.93. The company has a current ratio of 1.50, a quick ratio of 0.29 and a debt-to-equity ratio of 8.40.

Naked Wines declared that its board has initiated a stock buyback plan on Monday, March 23rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Naked Wines

In related news, insider Jack Pailing bought 38,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were acquired at an average price of GBX 62 per share, for a total transaction of £23,560. In the last quarter, insiders have bought 102,750 shares of company stock worth $7,188,250. 17.93% of the stock is currently owned by corporate insiders.

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.