Hammond Power Solutions (TSE:HPS.A) Stock Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Hammond Power Solutions stock price dropped below its 50-day moving average, trading as low as C$112.13, with the last recorded price at C$114.08.
• National Bankshares raised its price target for the company from C$140.00 to C$150.00, maintaining an "outperform" rating, while the consensus target price stands at C$152.00.
• Insider selling has occurred, with Senior Officer John Henry Bailey selling 325 shares at an average price of C$116.85, significantly reducing his stake in the company.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$123.53 and traded as low as C$112.13. Hammond Power Solutions shares last traded at C$114.08, with a volume of 64,055 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, National Bankshares upped their price target on Hammond Power Solutions from C$140.00 to C$150.00 and gave the company an "outperform" rating in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, According to 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 Stock Up 0.9%

The stock has a market capitalization of C$1.36 billion, a price-to-earnings ratio of 17.05 and a beta of 1.35. 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 firm has a 50-day moving average of C$123.53 and a two-hundred day moving average of C$104.84.

Insiders Place Their Bets

In other Hammond Power Solutions news, Senior Officer John Henry Bailey sold 325 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total value of C$37,976.25. Following the transaction, the insider directly owned 31 shares of the company's stock, valued at C$3,622.35. This represents a 91.29% decrease in their position. Insiders own 6.02% of the company's stock.

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.

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