Huddly AS’ (OB:HDLY) 30% Share Price Surge Not Quite Adding Up
Huddly AS (OB:HDLY) shareholders are no doubt pleased to see that the share price has bounced 30% in the last month, although it is still struggling to make up recently lost ground. Still, the 30-day jump doesn’t change the fact that longer term shareholders have seen their stock decimated by the 73% share price drop in the last twelve months.
Following the firm bounce in price, given close to half the companies operating in Norway’s Communications industry have price-to-sales ratios (or “P/S”) below 1.1x, you may consider Huddly as a stock to potentially avoid with its 2.3x P/S ratio. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s as high as it is.
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