Hardide (LON:HDD) Trading Down 8.7% – Here’s What Happened

Shares of Hardide plc (LON:HDD) fell 8.7% during mid-day trading on Tuesday . The company traded as low as GBX 17.01 and last traded at GBX 17.80. 503,338 shares changed hands during trading, an increase of 161% from the average session volume of 192,937 shares. The stock had previously closed at GBX 19.50.

Hardide Stock Down 8.7%

The stock has a market cap of £14.03 million, a price-to-earnings ratio of -44.50 and a beta of 0.86. The firm’s 50-day moving average is GBX 10.50 and its 200 day moving average is GBX 8.77. The company has a debt-to-equity ratio of 69.15, a current ratio of 1.46 and a quick ratio of 1.77.

Insider Buying and Selling

In other Hardide news, insider Andrew Magson bought 185,185 shares of the company’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost of GBX 8 per share, with a total value of £14,814.80. 65.46% of the stock is currently owned by corporate insiders.

About Hardide

Hardide plc develops, manufactures and applies advanced technology tungsten-carbide coatings to a wide range of engineering components. Its patented technology is unique in combining, in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments.