Trifast (LON:TRI) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Trifast plc (LON:TRI) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 76.54 and traded as low as GBX 67.50. Trifast shares last traded at GBX 68, with a volume of 69,720 shares changing hands.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research reports. Peel Hunt reissued a “buy” rating and set a GBX 140 target price on shares of Trifast in a report on Tuesday, November 18th. Berenberg Bank restated a “buy” rating and issued a GBX 130 price target on shares of Trifast in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 135.

Trifast Trading Up 0.6%

The company has a quick ratio of 1.78, a current ratio of 3.82 and a debt-to-equity ratio of 69.36. The company has a market cap of £91.78 million, a price-to-earnings ratio of 78.16 and a beta of 0.66. The firm has a 50 day moving average price of GBX 76.47 and a two-hundred day moving average price of GBX 76.54.

Insider Activity at Trifast

In other news, insider Iain Percival bought 123,757 shares of the stock in a transaction that occurred on Monday, February 16th. The stock was acquired at an average price of GBX 80 per share, with a total value of £99,005.60. Also, insider Nicholas Mills bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was purchased at an average price of GBX 70 per share, for a total transaction of £14,000. 20.57% of the stock is currently owned by company insiders.

Trifast Company Profile

About Trifast
In 2023, TR celebrated 50 years of business with a proud heritage of serving customers with engineered fastening supply chain solutions; Our skills lie in the design, engineering, manufacture, and distribution of high-quality engineered fastenings and Category ‘C’ components principally for major global assembly industries.

As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate manufacturing facilities focused on high volume cold forged fasteners and special parts.