Purplebricks Group (LON:PURP) Stock Price Crosses Above 50-Day Moving Average of $109.26

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Purplebricks Group PLC (LON:PURP)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $109.26 and traded as high as $106.43. Purplebricks Group shares last traded at $101.20, with a volume of 146,879 shares trading hands.

PURP has been the subject of several recent analyst reports. UBS Group reaffirmed a “sell” rating and set a GBX 100 ($1.31) price objective (down previously from GBX 285 ($3.72)) on shares of Purplebricks Group in a research note on Wednesday, May 1st. Peel Hunt reaffirmed an “under review” rating on shares of Purplebricks Group in a research note on Thursday, February 21st. Berenberg Bank reaffirmed a “sell” rating and set a GBX 80 ($1.05) price objective on shares of Purplebricks Group in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Purplebricks Group from GBX 167 ($2.18) to GBX 186 ($2.43) and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of GBX 267.67 ($3.50).

The stock has a market cap of $309.30 million and a PE ratio of -6.70.

In related news, insider Andreas Wiele bought 43,662,416 shares of the company’s stock in a transaction on Sunday, June 2nd. The stock was acquired at an average cost of GBX 100 ($1.31) per share, for a total transaction of £43,662,416 ($57,052,679.99).

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About Purplebricks Group (LON:PURP)

Purplebricks Group plc engages in real estate agency business in the United Kingdom, Australia, the United States, and Canada. It provides services relating to the sale and letting of properties. The company combines local property experts and technology to help make the process of selling, buying, or letting more convenient, transparent, and cost effective.

Read More: Diversification in Investing

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