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

Shares of Renold plc (LON:RNO - Get Free Report) shot up 40.5% during mid-day trading on Wednesday . The company traded as high as GBX 78.60 ($1.06) and last traded at GBX 76.72 ($1.04). 8,440,536 shares changed hands during trading, an increase of 1,088% from the average session volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.74).

Analyst Upgrades and Downgrades

Separately, Shore Capital reaffirmed a "buy" rating on shares of Renold in a research note on Tuesday, May 20th.

Renold Stock Up 0.8%

The business has a fifty day moving average of GBX 47.56 and a 200 day moving average of GBX 47.36. 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 has a debt-to-equity ratio of 150.00, a current ratio of 1.73 and a quick ratio of 0.80.

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.