Renold (LON:RNO) Trading 40.5% Higher – Should You Buy?

Renold plc (LON:RNO) rose 40.5% on Wednesday . The company traded as high as GBX 78.60 ($1.05) and last traded at GBX 76.72 ($1.03). Approximately 8,440,536 shares were traded during trading, an increase of 1,088% from the average daily volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.73).

Analysts Set New Price Targets

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

Renold Stock Down 1.1%

The stock’s 50 day simple moving average is GBX 45.49 and its two-hundred day simple moving average is GBX 46.97. The firm has a market cap of £174.26 million, a P/E ratio of 8.92, a P/E/G ratio of 0.10 and a beta of 0.76. The company has a debt-to-equity ratio of 150.00, a current ratio of 1.73 and a quick ratio of 0.80.

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.