Hammond Power Solutions (TSE:HPS.A) Stock Price Up 29.6% - Here's What Happened

Key Points

• Hammond Power Solutions Inc. (TSE:HPS.A) shares surged 29.6% to C$182.54, significantly increasing trading volume by 501% compared to the average.
• Analysts have upgraded the company’s price target to C$150.00 with a consensus rating of "Buy" and an average target of C$152.00.
• Senior Officer John Henry Bailey sold 325 shares at an average price of C$116.85, reducing their position by 91.29%.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shares rose 29.6% during trading on Friday . The stock traded as high as C$190.51 and last traded at C$182.54. Approximately 299,596 shares were traded during trading, an increase of 501% from the average daily volume of 49,833 shares. The stock had previously closed at C$140.83.

Analyst Ratings Changes

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

Hammond Power Solutions Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The firm has a 50-day moving average of C$124.43 and a 200-day moving average of C$113.60. The stock has a market capitalization of C$2.16 billion, a price-to-earnings ratio of 27.12 and a beta of 1.17.

Insider Activity

In related news, Senior Officer John Henry Bailey sold 325 shares of the company's stock in a transaction on 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. 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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