Hunting (LON:HTG) Share Price Passes Above 200 Day Moving Average – What’s Next?

Hunting PLC (LON:HTG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 363.80 ($4.49) and traded as high as GBX 372 ($4.59). Hunting shares last traded at GBX 362 ($4.46), with a volume of 365,081 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HTG shares. Canaccord Genuity Group restated a “buy” rating and set a GBX 600 ($7.40) target price on shares of Hunting in a research note on Tuesday, January 14th. Berenberg Bank increased their price objective on shares of Hunting from GBX 460 ($5.67) to GBX 480 ($5.92) and gave the company a “buy” rating in a research report on Tuesday, January 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Hunting presently has an average rating of “Buy” and a consensus target price of GBX 518 ($6.39).

Hunting Price Performance

The firm has a 50-day simple moving average of GBX 307.38 and a 200-day simple moving average of GBX 363.80. The firm has a market capitalization of £573.23 million, a PE ratio of 603.33, a PEG ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 11.60, a current ratio of 2.69 and a quick ratio of 2.08.

Insider Activity at Hunting

In related news, insider Paula Harris bought 3,300 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of GBX 304 ($3.75) per share, for a total transaction of £10,032 ($12,368.39). 18.20% of the stock is currently owned by company insiders.

About Hunting

Located in 11 countries across four continents, we manufacture components, technology systems and precision parts globally.

Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry.

Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment.

Our people are our most important asset.