Hammond Power Solutions (TSE:HPS.A) Trading 27.5% Higher – Here’s Why

Hammond Power Solutions Inc. (TSE:HPS.A) traded up 27.5% during trading on Saturday . The stock traded as high as C$190.51 and last traded at C$179.52. 457,940 shares were traded during trading, an increase of 804% from the average session volume of 50,685 shares. The stock had previously closed at C$140.83.

Analyst Ratings Changes

Separately, National Bankshares raised their target price on Hammond Power Solutions from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$152.00.

Hammond Power Solutions Price Performance

The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The business’s 50 day simple moving average is C$125.48 and its two-hundred day simple moving average is C$114.88. The stock has a market capitalization of C$2.14 billion, a P/E ratio of 26.83 and a beta of 1.17.

Insider Buying and Selling at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total value of C$37,976.25. Following the transaction, the insider owned 31 shares in the company, valued at C$3,622.35. This trade represents a 91.29% decrease in their ownership of the stock. 6.02% of the stock is owned by corporate insiders.

About Hammond Power Solutions

Hammond Power Solutions Inc is engaged in designing and manufacturing of custom electrical magnetics, cast resin, custom liquid filled distribution and power transformers and standard electrical transformers, serving the electrical and electronic industries. The company has manufacturing plants in Canada, the United States, Mexico and India.