Gamma Communications (LON:GAMA) Shares Cross Above 50-Day Moving Average of $1,392.91

Gamma Communications plc (LON:GAMA)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 1,392.91 ($17.67) and traded as high as GBX 1,432 ($18.17). Gamma Communications shares last traded at GBX 1,430 ($18.14), with a volume of 199,736 shares changing hands.

Analysts Set New Price Targets

GAMA has been the subject of a number of recent analyst reports. Shore Capital reaffirmed a “buy” rating on shares of Gamma Communications in a report on Tuesday, May 21st. Berenberg Bank initiated coverage on Gamma Communications in a report on Monday, June 3rd. They set a “buy” rating and a GBX 1,980 ($25.12) target price for the company.

Gamma Communications Price Performance

The business has a 50 day moving average of GBX 1,392.91 and a 200 day moving average of GBX 1,278.92. The company has a market cap of £1.39 billion, a PE ratio of 2,600.00, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74. The company has a debt-to-equity ratio of 3.40, a current ratio of 2.92 and a quick ratio of 2.45.

Insider Buying and Selling at Gamma Communications

In other Gamma Communications news, insider Andrew Belshaw sold 16,015 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of GBX 1,313 ($16.66), for a total transaction of £210,276.95 ($266,747.37). Corporate insiders own 3.68% of the company’s stock.

About Gamma Communications

Gamma Communications plc, together with its subsidiaries, engages in the provision of technology-based communications and software services for small, medium, and large sized to businesses in Western Europe. The company offers Unified Communications as a Service products for enabling businesses to raise productivity, boost agility, and increase collaboration; Contact Centre as a Service, through a software platform that allows contact centres to operate over the internet for SMEs and Enterprise; and Direct Routing and Operator Connect services, designed to enable seamless and integrated calling between Teams and the local telephony infrastructure.