Home / Industrial Goods / Shares of Sun Hydraulics Corporation (SNHY) Sink 9.13% in Early Trading on September 23

Shares of Sun Hydraulics Corporation (SNHY) Sink 9.13% in Early Trading on September 23

Sun Hydraulics Corporation (SNHY) started the trading day on a down note, making it one of the worst performing stocks in the industrial goods sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 23. Shares of SNHY have fallen 9.13% about 30 minutes into the session to $28.75 after closing the day prior at $31.64. It’s early, but the stock has traded as high as $31.37 and as low as $28.75 so far. Today’s quick decline has come with about 2,954 shares changing hands, compared to an average 30-day volume of 50,676 for Sun Hydraulics Corporation. The price is currently below the 30-day volume weighted average price of $30.73 for SNHY.

The share depreciation gives the company a market capitalization of $851.81 million based upon 26.92 million shares outstanding. It also means that SNHY has a price-to-book ratio of 3.63:1.

In the past 52 weeks, shares of SNHY have traded as low as $24.0 and as high as $35.93. Technical traders will take note that at $28.75, shares of SNHY are trading below their 200-day MA at $30.4 and below their 50-day MA at $30.13. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is SNHY?

Sun Hydraulics Corp is a designer and manufacturer of high-performance screw-in hydraulic cartridge valves and manifolds, which controls force, speed and motion as integral components in fluid power systems. The company’s 862 employees are led by CEO Wolfgang H. Dangel from the corporate headquarters at 1500 West University Parkway in Sarasota, FL.


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