Hammond Power Solutions (TSE:HPS.A) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Hammond Power Solutions stock price recently crossed above its fifty-day moving average of C$122.71, trading at C$121.97 with a volume of 65,222 shares.
• National Bankshares raised their price target for the company's shares from C$140.00 to C$150.00, maintaining an "outperform" rating.
• Insider trading activity has seen a senior officer selling 325 shares at an average price of C$116.85, significantly reducing their ownership by 91.29%.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$122.71 and traded as high as C$122.82. Hammond Power Solutions shares last traded at C$121.97, with a volume of 65,222 shares changing hands.

Analysts Set New Price Targets

Separately, National Bankshares increased their price target on shares of Hammond Power Solutions from C$140.00 to C$150.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$152.00.

Hammond Power Solutions Trading Up 3.9%

The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06. The company's 50 day moving average is C$122.71 and its two-hundred day moving average is C$106.29. The firm has a market cap of C$1.45 billion, a P/E ratio of 18.23 and a beta of 1.35.

Insider Buying and Selling at Hammond Power Solutions

In related news, Senior Officer John Henry Bailey sold 325 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total value of C$37,976.25. Following the completion of the sale, the insider owned 31 shares in the company, valued at approximately C$3,622.35. This trade represents a 91.29% decrease in their ownership of the stock. Insiders own 6.02% of the company's stock.

Hammond Power Solutions Company Profile

Hammond Power Solutions Inc is engaged in designing and manufacturing of custom electrical magnetics, cast resin, custom liquid filled distribution and power transformers and standard electrical transformers, serving the electrical and electronic industries. The company has manufacturing plants in Canada, the United States, Mexico and India.

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