Filtronic (LON:FTC) Trading Down 10.5% – What’s Next?

Filtronic plc (LON:FTC)’s stock price traded down 10.5% during trading on Tuesday . The stock traded as low as GBX 330 and last traded at GBX 340. Approximately 3,515,363 shares traded hands during trading, an increase of 12% from the average session volume of 3,137,960 shares. The stock had previously closed at GBX 380.

Analysts Set New Price Targets

Separately, Berenberg Bank upped their price target on Filtronic from GBX 360 to GBX 440 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 440.

Filtronic Stock Up 0.3%

The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02. The firm has a 50 day moving average price of GBX 340.89 and a 200-day moving average price of GBX 238.01. The firm has a market cap of £684.07 million, a price-to-earnings ratio of 74.94 and a beta of 1.01.

Insider Buying and Selling at Filtronic

In other Filtronic news, insider Jonathan Neale sold 65,151 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of GBX 244, for a total value of £158,968.44. Also, insider Pete Magowan sold 100,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total transaction of £205,000. In the last three months, insiders sold 405,782 shares of company stock worth $85,726,199. 4.50% of the stock is owned by corporate insiders.

About Filtronic

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today’s data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.