Renold (LON:RNO) Trading Up 40.5% – Time to Buy?

Renold plc (LON:RNO) shares traded up 40.5% during mid-day trading on Tuesday . The company traded as high as GBX 78.60 ($1.05) and last traded at GBX 76.72 ($1.02). 8,440,536 shares changed hands during mid-day trading, an increase of 1,088% from the average session volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.73).

Wall Street Analysts Forecast Growth

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

Renold Price Performance

The company has a current ratio of 1.73, a quick ratio of 0.80 and a debt-to-equity ratio of 150.00. The company has a market capitalization of £185.16 million, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.10 and a beta of 0.76. The stock’s 50-day moving average is GBX 44.72 and its two-hundred day moving average is GBX 46.77.

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.