Shares of Hardide plc (LON:HDD) experienced a significant increase of 11.6% during trading on Monday, reaching a peak price of GBX 16.95 before concluding the session at GBX 16.33. This uptick followed a notable transaction volume of 398,414 shares, marking an impressive 113% rise compared to the average trading volume of 187,223 shares. The stock had previously closed at GBX 14.63.
Financial Overview and Ratios
Hardide’s recent performance reveals a debt-to-equity ratio of 69.15, a current ratio of 1.46, and a quick ratio of 1.77. The company currently holds a market capitalization of £12.87 million and reports a price-to-earnings (P/E) ratio of -40.81. Its beta value stands at 0.86, indicating lower volatility compared to the broader market. Recent data shows a fifty-day simple moving average of GBX 9.18 and a two-hundred-day simple moving average of GBX 8.33.
Insider Activity and Ownership
In related news, insider Andrew Magson made a notable purchase of 185,185 shares on October 24, 2023. The shares were acquired at an average price of GBX 8 each, amounting to a total investment of £14,814.80. The insider ownership of Hardide currently stands at 65.46%, reflecting strong confidence among those closely associated with the company.
Hardide plc specializes in the development and application of advanced tungsten-carbide coatings for various engineering components. The company’s patented technology combines toughness with resistance to abrasion, erosion, and corrosion. This unique material is particularly effective in enhancing the lifespan of components operating in harsh environments.
As Hardide continues to advance its market position, investors will be keen to monitor further developments and potential growth in the coming months.
