Plus500 (LON:PLUS) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Plus500 Ltd. (LON:PLUS) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 3,131.17 ($41.76) and traded as high as GBX 3,288 ($43.85). Plus500 shares last traded at GBX 3,266 ($43.56), with a volume of 4,650,375 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLUS. Peel Hunt reissued a “buy” rating and set a GBX 3,400 price target on shares of Plus500 in a report on Monday, August 11th. Liberum Capital increased their price target on shares of Plus500 from GBX 3,650 to GBX 3,750 and gave the stock a “buy” rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 3,304.67.

Plus500 Stock Up 0.4%

The company has a market capitalization of £2.29 billion, a PE ratio of 9.07, a PEG ratio of 0.24 and a beta of 0.20. The stock’s fifty day simple moving average is GBX 3,131.17 and its 200-day simple moving average is GBX 3,226.85.

Plus500 declared that its Board of Directors has initiated a share buyback plan on Monday, August 11th that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Plus500 Company Profile

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.