Tungsten (LON:TUNG) Stock Passes Below 200 Day Moving Average of $31.33

Tungsten Co. plc (LON:TUNG)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 31.33 ($0.41) and traded as low as GBX 27 ($0.35). Tungsten shares last traded at GBX 30 ($0.39), with a volume of 270,012 shares changing hands.

Separately, Canaccord Genuity reduced their price objective on shares of Tungsten from GBX 75 ($0.98) to GBX 65 ($0.85) and set a “buy” rating for the company in a research report on Monday, December 14th.

The company has a quick ratio of 0.37, a current ratio of 0.44 and a debt-to-equity ratio of 13.63. The company has a market capitalization of £37.87 million and a PE ratio of -0.70. The business’s 50 day simple moving average is GBX 34.56 and its 200 day simple moving average is GBX 31.31.

About Tungsten (LON:TUNG)

Tungsten Corporation plc operates an e-invoicing network that also provides trade finance and spend analytics. The company operates through Tungsten Network and Tungsten Network Finance segments. It offers e-invoicing solutions to streamline and digitize accounts payable processes; invoice data capture solutions; purchase order services; and analytics solutions to transform invoice data.

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