Speedy Hire Plc (LON:SDY – Get Free Report) shares rose 18.8% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). Approximately 4,539,014 shares changed hands during mid-day trading, an increase of 313% from the average daily volume of 1,098,396 shares. The stock had previously closed at GBX 24.17 ($0.33).
Specifically, insider Shatish D. Dasani purchased 10,500 shares of Speedy Hire stock in a transaction that occurred on Monday, October 6th. The stock was bought at an average price of GBX 28 per share, with a total value of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of Speedy Hire stock in a transaction that occurred on Monday, October 6th. The shares were purchased at an average cost of GBX 28 per share, with a total value of £70,000.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 60 price target on shares of Speedy Hire in a research report on Thursday, September 4th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 65.
Speedy Hire Stock Performance
The company has a debt-to-equity ratio of 115.48, a quick ratio of 0.90 and a current ratio of 0.94. The firm has a market cap of £132.17 million, a P/E ratio of -11,958.33, a P/E/G ratio of 0.21 and a beta of 1.25. The business’s 50-day simple moving average is GBX 26.99 and its 200 day simple moving average is GBX 25.20.
About Speedy Hire
Speedy Hire Plc, together with its subsidiaries, provides tools, equipment, and plant hire services to the construction, infrastructure, and industrial markets in the United Kingdom and Ireland. The company hires a range of tools and accessories, including access, lighting, lifting, rail, survey and safety, ATEX, plant, communications, and pipework and engineering equipment; compressors, generators, and pumps; and heating, ventilation, and cooling equipment.
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