Filtronic (LON:FTC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Filtronic plc (LON:FTC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 248.82 and traded as high as GBX 384.94. Filtronic shares last traded at GBX 275, with a volume of 1,560,291 shares traded.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank increased their price objective on Filtronic from GBX 360 to GBX 440 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 440.

Filtronic Stock Up 2.2%

The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02. The firm’s 50 day simple moving average is GBX 341.98 and its 200-day simple moving average is GBX 249.67. The stock has a market capitalization of £626.84 million, a price-to-earnings ratio of 68.67 and a beta of 1.06.

Insider Buying and Selling at Filtronic

In other news, insider Jonathan Neale sold 65,151 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total value of £158,968.44. 4.50% of the stock is owned by insiders.

About Filtronic

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today’s data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.