Hammond Power Solutions (TSE:HPS.A) Stock Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Hammond Power Solutions Inc. shares crossed above the 50-day moving average of C$121.65, reaching a high of C$127.05 before closing at C$125.70.
• National Bankshares increased their target price for the stock from C$140.00 to C$150.00 and rated it as "outperform," contributing to a consensus price target of C$152.00.
• Insider selling was noted as Senior Officer John Henry Bailey sold 325 shares at an average price of C$116.85, significantly reducing his position by 91.29%.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$121.65 and traded as high as C$127.05. Hammond Power Solutions shares last traded at C$125.70, with a volume of 34,177 shares.

Wall Street Analyst Weigh In

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

Hammond Power Solutions Price Performance

The firm has a market cap of C$1.50 billion, a PE ratio of 18.79 and a beta of 1.35. 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 business's fifty day moving average is C$121.65 and its 200-day moving average is C$108.07.

Insider Activity

In related news, Senior Officer John Henry Bailey sold 325 shares of Hammond Power Solutions 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 value of C$37,976.25. Following the sale, the insider owned 31 shares of the company's stock, valued at approximately C$3,622.35. The trade was a 91.29% decrease in their position. 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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