Hunting (LON:HTG) Trading Up 12% - Here's Why

Hunting PLC (LON:HTG - Get Free Report)'s share price shot up 12% during mid-day trading on Wednesday . The company traded as high as GBX 347 ($4.72) and last traded at GBX 336.50 ($4.57). 6,724,851 shares traded hands during trading, an increase of 887% from the average session volume of 681,271 shares. The stock had previously closed at GBX 300.50 ($4.08).

Analysts Set New Price Targets

A number of research firms recently issued reports on HTG. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 600 ($8.15) target price on shares of Hunting in a research report on Wednesday. Berenberg Bank reiterated a "buy" rating and set a GBX 465 ($6.32) target price on shares of Hunting in a research report on Wednesday.

Hunting Stock Performance

The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64. The company's 50-day moving average is GBX 270.43 and its two-hundred day moving average is GBX 292.51. The company has a market capitalization of £653.08 million, a P/E ratio of 5.31, a PEG ratio of 1.06 and a beta of 1.07.

About Hunting

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors. Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry. Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment. Our people are our most important asset.