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Hammond Power Solutions (TSE:HPS.A) Shares Up 27.5% - Here's What Happened

Hammond Power Solutions logo with Computer and Technology background

Key Points

  • Hammond Power Solutions Inc. shares surged by 27.5% to C$179.52, after reaching a high of C$190.51, with trading volume increasing significantly by 804% from the average.
  • National Bankshares has raised the company's price target from C$140.00 to C$150.00 and maintained an "outperform" rating, while the consensus rating remains a "Buy" with an average target price of C$152.00.
  • The company has a market capitalization of C$2.14 billion, a P/E ratio of 26.83, and notable insider selling, with a senior officer reducing their position by over 91% recently.
  • Five stocks to consider instead of Hammond Power Solutions.

Shares of Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shot up 27.5% on Saturday . The stock traded as high as C$190.51 and last traded at C$179.52. 457,940 shares traded hands during mid-day trading, an increase of 804% from the average session volume of 50,685 shares. The stock had previously closed at C$140.83.

Analysts Set New Price Targets

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

View Our Latest Analysis on Hammond Power Solutions

Hammond Power Solutions Stock Performance

The firm has a market capitalization of C$2.14 billion, a P/E ratio of 26.83 and a beta of 1.17. The stock has a 50-day moving average of C$125.48 and a 200 day moving average of C$114.35. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03.

Insider Buying and Selling

In related news, Senior Officer John Henry Bailey sold 325 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total transaction of C$37,976.25. Following the sale, the insider directly owned 31 shares in the company, valued at C$3,622.35. This represents a 91.29% decrease in their position. 6.02% of the stock is currently owned by company insiders.

About Hammond Power Solutions

(Get Free Report)

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.

See Also

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