Renold (LON:RNO) Stock Price Up 40% - Here's Why

Renold plc (LON:RNO - Get Free Report)'s share price rose 40% during trading on Tuesday . The company traded as high as GBX 77 ($1.04) and last traded at GBX 76.44 ($1.03). Approximately 8,323,271 shares traded hands during mid-day trading, an increase of 1,074% from the average daily volume of 709,012 shares. The stock had previously closed at GBX 54.60 ($0.74).

Analysts Set New Price Targets

Separately, Shore Capital restated a "buy" rating on shares of Renold in a report on Tuesday, May 20th.

Renold Trading Up 0.8%

The company has a debt-to-equity ratio of 150.00, a current ratio of 1.73 and a quick ratio of 0.80. The stock has a market cap of £178.60 million, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.10 and a beta of 0.76. The company's fifty day moving average price is GBX 47.56 and its 200-day moving average price is GBX 47.39.

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.