Hammond Power Solutions (OTCMKTS:HMDPF) Trading Up 1.9% – Time to Buy?

Hammond Power Solutions Inc. (OTCMKTS:HMDPF) shares were up 1.9% during mid-day trading on Monday . The company traded as high as C$219.00 and last traded at C$218.50. Approximately 3,515 shares were traded during trading, a decline of 59% from the average daily volume of 8,589 shares. The stock had previously closed at C$214.44.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Hammond Power Solutions in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Hammond Power Solutions Price Performance

The business has a 50-day moving average of C$210.21 and a 200-day moving average of C$158.96.

About Hammond Power Solutions

Hammond Power Solutions Inc, headquartered in Guelph, Ontario, Canada, is a designer and manufacturer of dry-type transformers and related electrical distribution equipment. Since its founding in 1979, the company has built a reputation for delivering both standard and custom power distribution solutions tailored to a wide range of industrial, commercial and utility applications.

The company’s product portfolio includes single-phase and three-phase dry-type transformers, cast-resin transformers, voltage regulators, magnetic chokes, distribution transformers and specialty magnetic components such as cast copper products and amorphous core units.