Speedy Hire (LON:SDY) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Speedy Hire Plc (LON:SDY) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 25.84 ($0.35) and traded as low as GBX 25.05 ($0.33). Speedy Hire shares last traded at GBX 25.05 ($0.33), with a volume of 2,465,447 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their target price on shares of Speedy Hire from GBX 60 to GBX 79 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Speedy Hire has a consensus rating of “Buy” and a consensus price target of GBX 74.50.

Speedy Hire Trading Up 5.0%

The firm has a market capitalization of £121.11 million, a P/E ratio of -109.58, a PEG ratio of 0.21 and a beta of 1.25. The business’s 50 day moving average is GBX 26.25 and its two-hundred day moving average is GBX 25.84. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 115.48.

Insider Buying and Selling

In related news, insider Shatish D. Dasani acquired 10,500 shares of the company’s stock in a transaction on Monday, October 6th. The shares were purchased at an average price of GBX 28 per share, for a total transaction of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were purchased at an average cost of GBX 28 per share, with a total value of £70,000. Insiders purchased 550,500 shares of company stock valued at $15,704,000 over the last ninety days. 2.25% of the stock is currently owned by company insiders.

About Speedy Hire

Speedy Hire Plc, together with its subsidiaries, provides tools, equipment, and plant hire services to the construction, infrastructure, and industrial markets in the United Kingdom and Ireland. The company hires a range of tools and accessories, including access, lighting, lifting, rail, survey and safety, ATEX, plant, communications, and pipework and engineering equipment; compressors, generators, and pumps; and heating, ventilation, and cooling equipment.