Hammond Power Solutions (OTCMKTS:HMDPF) Shares Down 7.6% – What’s Next?

Hammond Power Solutions Inc. (OTCMKTS:HMDPF)’s share price dropped 7.6% during trading on Monday . The company traded as low as C$169.07 and last traded at C$169.07. 8,570 shares were traded during trading, a decline of 8% from the average session volume of 9,355 shares. The stock had previously closed at C$183.00.

Analyst Ratings Changes

Separately, Raymond James Financial started coverage on Hammond Power Solutions in a research note on Tuesday, June 30th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Hammond Power Solutions Trading Down 7.6%

The stock’s fifty day moving average price is C$187.18 and its 200 day moving average price is C$189.46.

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.