Hammond Power Solutions (TSE:HPS.A) Shares Down 17.3% - Here's What Happened

Key Points

• Hammond Power Solutions Inc. experienced a significant stock price decline of 17.3%, trading as low as C$115.35 during recent trading.
• The company saw a notable increase in trading volume, with approximately 406,890 shares exchanged, 708% higher than its average daily volume.
• Hammond Power Solutions specializes in designing and manufacturing custom electrical magnetics and transformers, with manufacturing facilities in multiple countries including Canada, the USA, Mexico, and India.

Shares of Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) dropped 17.3% during trading on Saturday . The stock traded as low as C$115.35 and last traded at C$115.57. Approximately 406,890 shares changed hands during trading, an increase of 708% from the average daily volume of 50,345 shares. The stock had previously closed at C$139.67.

Hammond Power Solutions Stock Up 3.1%

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 simple moving average is C$115.98 and its 200 day simple moving average is C$99.99. The firm has a market cap of C$1.10 billion, a P/E ratio of 21.76 and a beta of 0.84.

About Hammond Power Solutions

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.