Ballard Power Systems (TSE:BLDP) Trading Up 2.2% – Here’s Why

Ballard Power Systems Inc. (TSE:BLDP)’s stock price rose 2.2% during trading on Thursday . The company traded as high as C$3.28 and last traded at C$3.25. Approximately 542,736 shares traded hands during trading, a decline of 51% from the average daily volume of 1,099,385 shares. The stock had previously closed at C$3.18.

Analyst Ratings Changes

Separately, National Bank Financial decreased their price objective on Ballard Power Systems from C$4.75 to C$4.50 and set a “sector perform” rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus target price of C$4.50.

Ballard Power Systems Trading Up 2.2%

The company has a debt-to-equity ratio of 3.52, a current ratio of 11.19 and a quick ratio of 13.57. The stock has a market cap of C$979.80 million, a price-to-earnings ratio of -12.50, a P/E/G ratio of -2,030.00 and a beta of 1.11. The company’s fifty day moving average price is C$4.20 and its 200-day moving average price is C$4.49.

Ballard Power Systems (TSE:BLDP) last released its earnings results on Friday, July 31st. The company reported C($0.10) EPS for the quarter. The company had revenue of C$29.27 million during the quarter. Ballard Power Systems had a negative return on equity of 13.17% and a negative net margin of 72.38%. On average, research analysts expect that Ballard Power Systems Inc. will post -0.67 EPS for the current fiscal year.

Insider Activity at Ballard Power Systems

In other news, insider Ltd. Weichai Power Co. sold 151,350 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$4.99, for a total transaction of C$755,236.50. Following the sale, the insider directly owned 30,951,476 shares of the company’s stock, valued at C$154,447,865.24. The trade was a 0.49% decrease in their ownership of the stock. Insiders own 15.53% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.