Redcentric (LON:RCN) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Redcentric plc (LON:RCN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 125.92 and traded as low as GBX 118.30. Redcentric shares last traded at GBX 119, with a volume of 51,081 shares trading hands.

Redcentric Trading Down 2.3%

The business has a 50 day moving average of GBX 120.41 and a 200 day moving average of GBX 125.92. The firm has a market capitalization of £189.56 million, a price-to-earnings ratio of 79.33 and a beta of 0.13. The company has a debt-to-equity ratio of 138.57, a current ratio of 0.77 and a quick ratio of 0.34.

Redcentric (LON:RCN) last issued its earnings results on Wednesday, December 10th. The company reported GBX 1.86 EPS for the quarter. Redcentric had a negative return on equity of 6.10% and a negative net margin of 2.11%. As a group, research analysts predict that Redcentric plc will post 8.8015647 earnings per share for the current fiscal year.

Insider Activity at Redcentric

In related news, insider Richard McGuire bought 29,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were purchased at an average cost of GBX 118 per share, with a total value of £34,220. Insiders have acquired a total of 75,000 shares of company stock worth $8,896,000 in the last quarter. 34.67% of the stock is currently owned by insiders.

Redcentric Company Profile

Redcentric plc provides IT managed services for public and private sector in the United Kingdom. It offers connectivity, software-defined wide area network (WAN), local area network (LAN), managed WAN and LAN, secure remote access, network connectivity options, secure remote and internet access, HSCN and public cloud connectivity, cellular MPLS primary and failover, WAN insight, and managed wireless networking services; and colocation, infrastructure as a service, hybrid cloud, platform as a service, digital transformation consultancy, modern workplace, managed public cloud, backup as a service, disaster recovery as a service, virtual desktops, full stack managed service, OS level managed service, e-commerce and SAP hybris, application modernisation and services experts, database administration, AI and machine learning, and cloud migration and consultancy services.