Concurrent Technologies (LON:CNC) Hits New 1-Year High – Here’s Why

Concurrent Technologies Plc (LON:CNC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 270 and last traded at GBX 270, with a volume of 217775 shares changing hands. The stock had previously closed at GBX 263.50.

Analyst Ratings Changes

Separately, Berenberg Bank initiated coverage on Concurrent Technologies in a research report on Wednesday, January 21st. They set a “buy” rating and a GBX 275 target price on the stock. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 275.

Concurrent Technologies Stock Up 2.5%

The business’s 50 day simple moving average is GBX 234.21 and its 200-day simple moving average is GBX 220.94. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.86 and a current ratio of 5.11. The company has a market cap of £234.87 million, a price-to-earnings ratio of 51.23 and a beta of 0.69.

Insider Buying and Selling

In related news, insider Brent Salgat sold 69,445 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of GBX 217, for a total value of £150,695.65. Also, insider Miles Adcock sold 103,377 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of GBX 242, for a total value of £250,172.34. Corporate insiders own 12.45% of the company’s stock.

About Concurrent Technologies

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.