Renold (LON:RNO) Stock Price Up 40.5% - Here's What Happened

Renold plc (LON:RNO - Get Free Report) shares rose 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). Approximately 8,440,536 shares changed hands during mid-day trading, an increase of 1,088% from the average daily volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.73).

Analyst Upgrades and Downgrades

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

Renold Price Performance

The company has a 50 day moving average of GBX 45.49 and a 200-day moving average of GBX 46.97. The firm has a market capitalization of £174.26 million, a P/E ratio of 8.92, a P/E/G ratio of 0.10 and a beta of 0.76. The company has a current ratio of 1.73, a quick ratio of 0.80 and a debt-to-equity ratio of 150.00.

Renold Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.