What happened to Hansen’s share price?
Hansen Technologies, a technology company offering billing solutions to utility companies, was down as much as 5.3% this afternoon at $2.33.
The fall comes after a strong rally in the company’s shares in recent weeks. Since February 2 through last night, the company’s shares have gained an impressive 42%.
Why are HSN shares lower?
Hansen’s shares were dragged lower with the wider market today after fall in the US and Europe overnight. The ASX 200 Index is down 1.4%.
And after a 7% rise over the past week, the stock was due for a pull back.
What now for Hansen Technologies Ltd?
A quick look at Hansen’s price chart, suggests the stock will continue to rise. Its long term uptrend remains in place, and the stock is trading above its 50 and 200 day moving averages.
Despite trading lower today, Hansen Technologies remains a quality business. It’s well managed with plenty of growth left. Investors are recognising its potential and seeing the value of last year’s purchase of North American billing software provider, Banner CIS.
for The Daily Reckoning Australia