Concurrent Technologies (LON:CNC) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Concurrent Technologies Plc (LON:CNC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 235.94 and traded as high as GBX 258. Concurrent Technologies shares last traded at GBX 250, with a volume of 275,171 shares.

Wall Street Analysts Forecast Growth

CNC has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 250 target price on shares of Concurrent Technologies in a research report on Wednesday, April 15th. Berenberg Bank reiterated a “buy” rating and issued a GBX 275 target price on shares of Concurrent Technologies in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 262.50.

Concurrent Technologies Stock Performance

The firm has a market cap of £228.69 million, a PE ratio of 45.12 and a beta of 1.30. The company has a 50 day simple moving average of GBX 229.45 and a 200-day simple moving average of GBX 236.12. The company has a debt-to-equity ratio of 4.84, a current ratio of 3.64 and a quick ratio of 1.86.

Concurrent Technologies (LON:CNC) last issued its earnings results on Monday, April 13th. The technology company reported GBX 5.86 earnings per share (EPS) for the quarter. The business had revenue of GBX 4,587 million during the quarter. Concurrent Technologies had a return on equity of 11.85% and a net margin of 11.03%. As a group, equities research analysts anticipate that Concurrent Technologies Plc will post 6.1015119 EPS for the current year.

Concurrent Technologies Company Profile

Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest 9th generation embedded Intel® Core™ processors, Intel® Xeon® and Intel® Atom™ processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded Operating Systems.