Renold (LON:RNO) Shares Up 40% – What’s Next?

Renold plc (LON:RNO)’s share price shot up 40% during mid-day trading on Tuesday . The stock traded as high as GBX 77 ($1.03) and last traded at GBX 76.44 ($1.03). 8,323,271 shares traded hands during trading, an increase of 1,074% from the average session volume of 709,012 shares. The stock had previously closed at GBX 54.60 ($0.73).

Analyst Ratings Changes

Separately, Shore Capital reissued a “buy” rating on shares of Renold in a report on Tuesday.

Renold Trading Up 1.8%

The company has a market cap of £177.94 million, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.10 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.73 and a debt-to-equity ratio of 150.00. The company’s 50-day moving average is GBX 46.17 and its 200 day moving average is GBX 47.15.

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.