Naked Wines (LON:WINE) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Naked Wines plc (LON:WINE)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 72.92 and traded as high as GBX 76.34. Naked Wines shares last traded at GBX 75.20, with a volume of 112,919 shares trading hands.

Naked Wines Stock Performance

The company has a debt-to-equity ratio of 8.40, a current ratio of 1.50 and a quick ratio of 0.29. The firm has a fifty day moving average price of GBX 72.92 and a two-hundred day moving average price of GBX 73.57. The stock has a market capitalization of £49.97 million, a PE ratio of -34.79, a P/E/G ratio of 0.40 and a beta of 1.54.

Naked Wines declared that its Board of Directors has approved a stock buyback plan on Monday, March 23rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Naked Wines news, insider Jack Pailing bought 38,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of GBX 62 per share, for a total transaction of £23,560. Insiders acquired a total of 86,350 shares of company stock valued at $5,921,900 in the last 90 days. Company insiders own 17.93% of the company’s stock.

About Naked Wines

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.