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

Key Points

• Hammond Power Solutions Inc. shares experienced a significant increase of 27.5% during trading, closing at C$179.52 after reaching a high of C$190.51.
• National Bankshares raised its price target for the company to C$150.00 and assigned an "outperform" rating, contributing to a positive sentiment with an average rating of "Buy" from analysts.
• The firm has a market capitalization of C$2.14 billion and a PE ratio of 26.83, with notable financial metrics including a debt-to-equity ratio of 10.76.

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

Analyst Upgrades and Downgrades

Separately, National Bankshares raised their price target on shares of 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 research analysts have rated the stock with a Buy rating, According to MarketBeat, Hammond Power Solutions presently has an average rating of "Buy" and an average target price of C$152.00.

Hammond Power Solutions Price Performance

The firm has a market cap of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17. The stock's fifty day moving average price is C$125.48 and its 200-day moving average price is C$114.35. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06.

Insiders Place Their Bets

In related news, Senior Officer John Henry Bailey sold 325 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 31 shares of the company's stock, valued at approximately 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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