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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. National Bankshares raised 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. Acumen Capital raised their price objective on shares of Hammond Power Solutions from C$156.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th.

Hammond Power Solutions Price Performance

The firm has a market cap of C$1.05 billion, a price-to-earnings ratio of 20.72 and a beta of 0.84. The company’s fifty day moving average is C$128.31 and its 200 day moving average is C$124.31. 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

In other Hammond Power Solutions news, Director Dahra Granovsky bought 1,500 shares of Hammond Power Solutions stock in a transaction dated Tuesday, November 5th. The stock was bought at an average cost of C$117.03 per share, for a total transaction of C$175,537.50. 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.