Solid State (LON:SOLI) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Solid State plc (LON:SOLI) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 187.87 and traded as high as GBX 200. Solid State shares last traded at GBX 192, with a volume of 41,680 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank boosted their price objective on Solid State from GBX 245 to GBX 275 and gave the stock a “buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Solid State has an average rating of “Buy” and a consensus target price of GBX 275.

Solid State Stock Performance

The company has a current ratio of 2.29, a quick ratio of 0.98 and a debt-to-equity ratio of 25.35. The stock’s 50-day moving average price is GBX 187.87 and its 200-day moving average price is GBX 169.94. The company has a market capitalization of £108.92 million, a P/E ratio of 27.04 and a beta of 0.88.

Solid State (LON:SOLI) last announced its quarterly earnings results on Monday, June 29th. The company reported GBX 11.10 earnings per share for the quarter. Solid State had a return on equity of 6.51% and a net margin of 2.65%. As a group, equities analysts expect that Solid State plc will post 13.6195996 EPS for the current year.

About Solid State

Solid State plc (AIM:SOLI) is a leading value-added electronics group supplying commercial, industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State’s products are found around the world, from the ocean floor to the edge of space, ensuring the smooth operation of systems that augment our everyday lives.

The company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.

Operating through two divisions (systems and components) the group thrives on complex engineering challenges, often requiring design-in support and component sourcing.