Naked Wines (LON:WINE) Shares Pass Above 50 Day Moving Average – What’s Next?

Shares of Naked Wines plc (LON:WINE) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 72.72 and traded as high as GBX 73.80. Naked Wines shares last traded at GBX 70.40, with a volume of 49,878 shares traded.

Naked Wines Price Performance

The company has a market cap of £47.10 million, a PE ratio of -33.24, a price-to-earnings-growth ratio of 0.40 and a beta of 1.33. The company has a debt-to-equity ratio of 8.40, a quick ratio of 0.29 and a current ratio of 1.50. The stock has a 50 day moving average of GBX 72.72 and a 200-day moving average of GBX 73.06.

Naked Wines announced that its Board of Directors has authorized a stock repurchase program on Monday, March 23rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Jack Pailing purchased 38,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of GBX 62 per share, with a total value of £23,560. Over the last 90 days, insiders bought 86,350 shares of company stock worth $5,921,900. 17.93% of the stock is currently owned by company insiders.

Naked Wines Company Profile

Naked Wines plc, together with its subsidiaries, engages in the retailing of wines and spirits in the United Kingdom, the United States, and Australia. The company offers its products online.