CyanConnode (LON:CYAN) Trading 11% Higher on Insider Buying Activity

CyanConnode Holdings plc (LON:CYAN)’s share price was up 11% during mid-day trading on Thursday following insider buying activity. The company traded as high as GBX 10.38 ($0.14) and last traded at GBX 10.38 ($0.14). Approximately 2,420,609 shares were traded during trading, an increase of 293% from the average daily volume of 615,495 shares. The stock had previously closed at GBX 9.35 ($0.13).

Specifically, insider John Cronin acquired 315,689 shares of the stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average cost of GBX 950 ($12.72) per share, with a total value of £2,999,045.50 ($4,015,861.68).

CyanConnode Stock Performance

The company has a current ratio of 1.50, a quick ratio of 2.18 and a debt-to-equity ratio of 3.53. The company has a market cap of £39.80 million, a P/E ratio of -1,145.00 and a beta of 1.60. The business’s 50 day simple moving average is GBX 8.28 and its 200 day simple moving average is GBX 8.33.

CyanConnode Company Profile

CyanConnode Holdings plc engages in the design, development, and sale of narrowband radio frequency (RF) mesh and cellular networks that enable Omni Internet of Things (IoT) communications in the United Kingdom, India, Thailand, rest of Europe, the United Arab Emirates, and internationally. It offers wireless communication technology for smart electricity, gas, and water metering; lighting control; and IoT.