Eleco (LON:ELCO) Shares Pass Below 50-Day Moving Average – What’s Next?

Shares of Eleco Plc (LON:ELCO) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 126.29 and traded as low as GBX 124. Eleco shares last traded at GBX 126.50, with a volume of 170,019 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective on Eleco from GBX 176 to GBX 196 and gave the company a “buy” rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 196.

Eleco Stock Performance

The company has a market cap of £105.29 million, a PE ratio of 28.11 and a beta of 0.66. The business’s 50-day moving average is GBX 126.29 and its 200 day moving average is GBX 135.30. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.23 and a current ratio of 0.90.

About Eleco