Concurrent Technologies (LON:CNC) Trading Up 7% – Here’s Why

Concurrent Technologies Plc (LON:CNC) shares traded up 7% during mid-day trading on Wednesday . The company traded as high as GBX 255 and last traded at GBX 246.13. Approximately 945,144 shares changed hands during mid-day trading, an increase of 198% from the average daily volume of 316,730 shares. The stock had previously closed at GBX 230.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 275 price objective on shares of Concurrent Technologies in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 262.50.

Concurrent Technologies Trading Up 7.0%

The business has a 50-day moving average of GBX 256.79 and a 200-day moving average of GBX 244.80. The stock has a market capitalization of £223.59 million, a price-to-earnings ratio of 44.11 and a beta of 1.30. The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.86 and a current ratio of 3.64.

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.