Filtronic (LON:FTC) Trading Down 8.1% – Here’s What Happened

Filtronic plc (LON:FTC)’s share price traded down 8.1% during trading on Thursday . The stock traded as low as GBX 430 and last traded at GBX 431. 9,214,551 shares were traded during trading, an increase of 216% from the average session volume of 2,911,722 shares. The stock had previously closed at GBX 469.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and set a GBX 213 price target on shares of Filtronic in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 213.

Filtronic Stock Down 6.4%

The company has a debt-to-equity ratio of 16.02, a quick ratio of 2.13 and a current ratio of 2.23. The firm has a fifty day simple moving average of GBX 264.33 and a 200-day simple moving average of GBX 200.85. The company has a market capitalization of £833.58 million, a PE ratio of 91.33 and a beta of 0.95.

Insiders Place Their Bets

In other news, insider Michael Tyerman sold 240,631 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total transaction of £493,293.55. Also, insider Pete Magowan sold 100,000 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total transaction of £205,000. Insiders sold a total of 405,782 shares of company stock valued at $85,726,199 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Filtronic Company Profile

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.