Castings (LON:CGS) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Castings P.L.C. (LON:CGS) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 312.96 ($4.09) and traded as high as GBX 314 ($4.10). Castings shares last traded at GBX 305 ($3.98), with a volume of 399 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on shares of Castings from GBX 460 ($6.01) to GBX 390 ($5.09) and set a “buy” rating for the company in a research note on Tuesday, August 20th.

Castings Stock Performance

The firm has a market cap of £128.02 million, a price-to-earnings ratio of 802.63 and a beta of 0.60. The company has a 50 day moving average price of GBX 312.96 and a 200 day moving average price of GBX 348.28.

Insider Buying and Selling at Castings

In related news, insider Steve Mant purchased 3,230 shares of Castings stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of GBX 308 ($4.02) per share, with a total value of £9,948.40 ($12,990.86). In other news, insider Steve Mant bought 3,230 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of GBX 308 ($4.02) per share, with a total value of £9,948.40 ($12,990.86). Also, insider Adam Vicary purchased 3,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average price of GBX 300 ($3.92) per share, for a total transaction of £10,500 ($13,711.15). Insiders have purchased 10,037 shares of company stock valued at $3,040,247 over the last 90 days. 21.35% of the stock is owned by insiders.

About Castings

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.