Renold (LON:RNO) Shares Up 40.5% - What's Next?

Renold plc (LON:RNO - Get Free Report)'s share price shot up 40.5% during mid-day trading on Wednesday . The stock traded as high as GBX 78.60 ($1.05) and last traded at GBX 76.72 ($1.03). 8,440,536 shares were traded during mid-day trading, an increase of 1,088% from the average session volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.73).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a "buy" rating on shares of Renold in a research note on Tuesday.

Renold Trading Down 2.1%

The stock has a market capitalization of £172.44 million, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 0.10 and a beta of 0.76. The business has a 50 day simple moving average of GBX 45.49 and a 200-day simple moving average of GBX 46.97. The company has a debt-to-equity ratio of 150.00, a quick ratio of 0.80 and a current ratio of 1.73.

About Renold

Renold plc engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally. The company operates in two segments, Chain and Torque Transmission. It offers inverted tooth chain products; and transmission chain products, including general transmission, low maintenance, abrasion and corrosion resistant, and drive chain, as well as klik-top polymer block chain and standard attachment chain.

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