Plus500 (LON:PLUS) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Plus500 Ltd. (LON:PLUS)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,228.34 and traded as low as GBX 3,048. Plus500 shares last traded at GBX 3,064, with a volume of 3,208,452 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLUS. Liberum Capital reissued a “buy” rating and set a GBX 3,750 target price on shares of Plus500 in a research note on Tuesday, November 18th. Peel Hunt reiterated a “buy” rating and issued a GBX 3,400 price target on shares of Plus500 in a report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,304.67.

Plus500 Stock Performance

The firm has a market cap of £2.18 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 0.24 and a beta of 0.20. The stock has a 50-day moving average of GBX 3,130.52 and a 200-day moving average of GBX 3,228.34.

Plus500 announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 11th that allows the company to repurchase $90.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Plus500 Company Profile

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.