Hubbell Inc (HUBB) traded on unusually high volume on Jan. 11, as the stock gained 1.83% to close at $105.59. On the day, Hubbell Inc saw 898,710 shares trade hands on 7,557 trades. Considering that the stock averages only a daily volume of 454,128 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $149.03 and $91.88 over the last 52-weeks, its 50-day SMA is now $103.53, and its 200-day SMA $112.87. Hubbell Inc has a P/B ratio of 3.29. It also has a P/E ratio of 19.6.
Hubbell Inc manufactures and sells quality electrical and electronic products for a wide range of nonresidential and residential construction, industrial, and utility applications. Products are sourced complete, manufactured, or assembled by subsidiaries. The company operates two business segments: electrical (majority of total revenue) and power. Products are primarily sold through distributors, home centers, retail and hardware stores, and other outlets. The electrical division manufactures thousands of wiring, electrical products, and specialty lighting components. The power division focuses on delivering various distribution, transmission, substation, and telecommunications products. Operations based in the United States account for the majority of revenue.
Headquartered in Shelton, CT, Hubbell Inc has 19,600 employees and is currently under the leadership of CEO .