Flowtech Fluidpower (LON:FLO) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Flowtech Fluidpower plc (LON:FLO)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 73.18 ($0.92) and traded as low as GBX 66.49 ($0.84). Flowtech Fluidpower shares last traded at GBX 66.80 ($0.84), with a volume of 154,051 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 130 ($1.64) price objective on shares of Flowtech Fluidpower in a research note on Thursday, January 30th.

Flowtech Fluidpower Price Performance

The stock has a market capitalization of £43.01 million, a P/E ratio of -2.99 and a beta of 1.04. The business’s 50 day simple moving average is GBX 72.90 and its two-hundred day simple moving average is GBX 89.20. The company has a quick ratio of 1.04, a current ratio of 2.91 and a debt-to-equity ratio of 35.90.

About Flowtech Fluidpower

Flowtech Fluidpower is a Group of specialist fluid power businesses. Working in partnership with customers and suppliers, we deliver essential components, custom solutions and high-quality servicing support to keep global industry moving. Our business is separated into two distinct divisions: Components and Services.