Telit Communications (LON:TCM) Share Price Passes Above 200 Day Moving Average of $0.00

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Shares of Telit Communications Plc (LON:TCM) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $172.20. Telit Communications shares last traded at $169.80, with a volume of 135,046 shares.

Separately, FinnCap reaffirmed a “corporate” rating on shares of Telit Communications in a research note on Tuesday, April 16th.

The business has a 50 day simple moving average of GBX 162.27. The firm has a market capitalization of $223.61 million and a P/E ratio of -6.09. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 80.16.

In other news, insider Harald Rösch acquired 250,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of GBX 185 ($2.42) per share, with a total value of £462,500 ($604,338.17).

About Telit Communications (LON:TCM)

Telit Communications PLC, together with its subsidiaries, provides a portfolio of integrated products and services to support and enable Internet of Things (IoT) deployments in the EMEA, the APAC, and the Americas. It operates in two segments, IoT Services and IoT Products. The company develops, markets, and sells cellular, global navigation satellite systems, short range wireless modules, mobile connectivity services, and application enablement platforms to onboard edge devices to the IoT.

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