Hammond Power Solutions (TSE:HPS.A) Shares Up 29.8% - What's Next?

Key Points

• Hammond Power Solutions' shares surged 29.8% on Friday, reaching a trading high of C$190.51 before closing at C$182.86, significantly higher than the previous close of C$140.83.
• National Bankshares increased their price target for the stock from C$140.00 to C$150.00 and rated it as "outperform," contributing to positive market sentiment.
• The company's average rating is "Buy" with a consensus target price of C$152.00, reflecting strong confidence among analysts regarding its future performance.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shares shot up 29.8% on Friday . The company traded as high as C$190.51 and last traded at C$182.86. 365,439 shares changed hands during mid-day trading, an increase of 628% from the average session volume of 50,165 shares. The stock had previously closed at C$140.83.

Analyst Ratings Changes

Separately, National Bankshares upped their price objective on shares of Hammond Power Solutions from C$140.00 to C$150.00 and gave the stock 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.com, Hammond Power Solutions has an average rating of "Buy" and a consensus target price of C$152.00.

Hammond Power Solutions Trading Up 27.5%

The stock's fifty day moving average price is C$124.43 and its 200 day moving average price is C$113.60. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The stock has a market cap of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17.

Insider Activity at Hammond Power Solutions

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

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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