Solid State (LON:SOLI) Stock Passes Above Fifty Day Moving Average – Here’s Why

Solid State plc (LON:SOLI)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 184.93 and traded as high as GBX 201. Solid State shares last traded at GBX 195.25, with a volume of 54,857 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their target price on Solid State from GBX 245 to GBX 275 and gave the stock a “buy” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 275.

Solid State Trading Down 2.4%

The company has a debt-to-equity ratio of 25.35, a quick ratio of 0.98 and a current ratio of 2.29. The stock has a market cap of £110.77 million, a price-to-earnings ratio of 27.50 and a beta of 0.88. The company’s 50 day simple moving average is GBX 184.93 and its two-hundred day simple moving average is GBX 168.24.

Solid State (LON:SOLI) last posted its quarterly earnings results on Monday, June 29th. The company reported GBX 11.10 EPS for the quarter. Solid State had a net margin of 2.65% and a return on equity of 6.51%. Research analysts expect that Solid State plc will post 13.6195996 EPS for the current fiscal year.

Solid State Company Profile

Solid State plc (AIM:SOLI) is a leading value-added electronics group supplying commercial, industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State’s products are found around the world, from the ocean floor to the edge of space, ensuring the smooth operation of systems that augment our everyday lives.

The company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.

Operating through two divisions (systems and components) the group thrives on complex engineering challenges, often requiring design-in support and component sourcing.