Trifast (LON:TRI) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Trifast plc (LON:TRI)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 72.99 and traded as low as GBX 63.40. Trifast shares last traded at GBX 65, with a volume of 58,831 shares trading hands.

Wall Street Analyst Weigh In

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

Trifast Price Performance

The firm has a market capitalization of £87.73 million, a P/E ratio of 74.71 and a beta of 0.73. The firm has a 50 day moving average price of GBX 68.44 and a 200-day moving average price of GBX 72.99. The company has a current ratio of 3.82, a quick ratio of 1.78 and a debt-to-equity ratio of 69.36.

Insider Activity at Trifast

In related news, insider Clive Watson acquired 973 shares of the stock in a transaction dated Thursday, April 16th. The stock was acquired at an average cost of GBX 71 per share, with a total value of £690.83. Also, insider Iain Percival acquired 4,621 shares of the stock in a transaction dated Thursday, April 16th. The stock was bought at an average cost of GBX 68 per share, with a total value of £3,142.28. Insiders bought a total of 129,351 shares of company stock valued at $10,283,871 over the last ninety days. Corporate insiders own 20.57% of the company’s stock.

About Trifast

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.