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Darktrace shares jump 10 per cent after broker says plunge driven by ‘fear not fact’
Shares in cybersecurity company Darktrace were up more than 10 per cent at midday on Monday after a fresh analyst note contradicted Peel Hunt’s “sell” analysis a fortnight ago and said the stock price plunge it provoked was driven by “fear not fact”.
“Any share price capitulation is a result of fear not fact,” Berenberg analysts including Benjamin May wrote in a new note, after visiting the company’s HQ in Cambridge.
This was accompanied by a “buy” rating on the FTSE 100 company’s stock from the broker, which provides its corporate services to Darktrace.
The share price surge built on an earlier recovery after a filing showed that Darktrace’s chairman Gordon Hurst bought 25,000 shares at a premium on Friday.
More to follow.
