Trifast (LON:TRI) Shares Cross Below 200-Day Moving Average – Should You Sell?

Trifast plc (LON:TRI) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 70.73 and traded as low as GBX 67.20. Trifast shares last traded at GBX 67.60, with a volume of 129,453 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 130 price target on shares of Trifast in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 135.

Trifast Price Performance

The company has a debt-to-equity ratio of 69.36, a current ratio of 3.82 and a quick ratio of 1.78. The stock’s 50 day simple moving average is GBX 66.24 and its two-hundred day simple moving average is GBX 70.73. The stock has a market cap of £91.24 million, a price-to-earnings ratio of 77.70 and a beta of 0.68.

Insider Activity

In related news, insider Iain Percival purchased 4,621 shares of Trifast stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average price of GBX 68 per share, for a total transaction of £3,142.28. Also, insider Clive Watson purchased 973 shares of Trifast stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of GBX 71 per share, for a total transaction of £690.83. 21.70% of the stock is owned by corporate insiders.

Trifast Company Profile

About Trifast
In 2023, TR celebrated 50 years of business with a proud heritage of serving customers with engineered fastening supply chain solutions; Our skills lie in the design, engineering, manufacture, and distribution of high-quality engineered fastenings and Category ‘C’ components principally for major global assembly industries.

As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate manufacturing facilities focused on high volume cold forged fasteners and special parts.