Hennessy Advisors Inc (NASDAQ: HNNA) has benefited from exceptional positive changes in investment behavior: the stock rose on very heavy volume, and positive upside/downside volume developed.
Hennessy Advisors Inc (NASDAQ: HNNA). Meaningful positive changes in fundamentals have recently occurred: significant quarterly earnings acceleration occurred, and the stock’s power rating rose above 70.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be in line with the cost of capital, HNNA is expected to continue to be Value Creation neutral.
Hennessy Advisors has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Hennessy Advisors has a neutral Appreciation Score of 49 but a good Power Rating of 78, leading to the Positive Value Trend Rating.
Recent Price Action
On 8/9/24, Hennessy Advisors Inc (NASDAQ: HNNA) stock enjoyed a very large increase of 6.3%, closing at $8.90. Moreover, trading volume in this advance was exceptionally high at 311% of normal. The stock has risen 7.4% during the last week and has been strong relative to the market over the last nine months.
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