Pinewood Technologies Group (LON:PINE) Trading Up 23.2% – Time to Buy?

Pinewood Technologies Group PLC (LON:PINE)’s share price shot up 23.2% during mid-day trading on Friday . The company traded as high as GBX 495 and last traded at GBX 475. 1,915,690 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 1,208,492 shares. The stock had previously closed at GBX 385.50.

Analysts Set New Price Targets

Separately, Berenberg Bank upped their price objective on shares of Pinewood Technologies Group from GBX 700 to GBX 725 and gave the company a “buy” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pinewood Technologies Group has an average rating of “Buy” and a consensus price target of GBX 725.

Pinewood Technologies Group Stock Performance

The firm has a market capitalization of £544.35 million, a PE ratio of 7.62 and a beta of 0.56. The stock’s 50-day simple moving average is GBX 357.75 and its 200-day simple moving average is GBX 420.74.

Insider Activity

In related news, insider William Berman purchased 13,921 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was bought at an average cost of GBX 357 per share, with a total value of £49,697.97. 47.43% of the stock is owned by corporate insiders.

Pinewood Technologies Group Company Profile

Pendragon PLC is one of the UK’s leading automotive retailers with over 120 locations selling new and used vehicles alongside expert aftercare services.

Operating in the UK under the brands of Evans Halshaw, Stratstone and CarStore the Group also has additional businesses including Pinewood for dealership management systems, Pendragon Vehicle Management for fleet and leasing and Quickco for wholesale vehicle parts.

Please visit www.pendragonplc.com where Pendragon discloses additional information about the company, its business and its results of operations.