Hammond Power Solutions (TSE:HPS.A) Stock Passes Below 200-Day Moving Average – What’s Next?

Hammond Power Solutions Inc. (TSE:HPS.A) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$124.31 and traded as low as C$114.25. Hammond Power Solutions shares last traded at C$114.81, with a volume of 24,206 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HPS.A. Acumen Capital raised their target price on shares of Hammond Power Solutions from C$156.00 to C$160.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. National Bankshares lifted their price objective on shares of Hammond Power Solutions from C$170.00 to C$175.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th.

Hammond Power Solutions Price Performance

The business’s 50 day moving average is C$128.31 and its 200-day moving average is C$124.31. The firm has a market capitalization of C$1.05 billion, a P/E ratio of 20.72 and a beta of 0.84. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76.

Insider Buying and Selling at Hammond Power Solutions

In related news, Director Dahra Granovsky bought 1,500 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of C$117.03 per share, for a total transaction of C$175,537.50. Company insiders own 6.02% of the company’s stock.

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.