Corero Network Security (LON:CNS) Stock Price Down 4.2% – Here’s What Happened

Shares of Corero Network Security plc (LON:CNS) traded down 4.2% during mid-day trading on Tuesday . The company traded as low as GBX 10.77 and last traded at GBX 11.50. 350,260 shares changed hands during trading, an increase of 36% from the average session volume of 257,202 shares. The stock had previously closed at GBX 12.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on shares of Corero Network Security from GBX 19 to GBX 20 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 20.

Corero Network Security Stock Performance

The firm has a market cap of £56.34 million, a PE ratio of -110.00 and a beta of 0.46. The company has a current ratio of 1.13, a quick ratio of 1.20 and a debt-to-equity ratio of 2.47. The firm’s 50 day simple moving average is GBX 12.15 and its 200 day simple moving average is GBX 11.46.

Insider Buying and Selling

In related news, insider Jeremy Nicholls purchased 43,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of GBX 12 per share, for a total transaction of £5,160. 39.67% of the stock is currently owned by insiders.

Corero Network Security Company Profile

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero’s award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero’s industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available.