Ballard Power Systems (TSE:BLDP) Shares Up 10.3% – Here’s What Happened

Ballard Power Systems Inc. (TSE:BLDP)’s stock price traded up 10.3% during mid-day trading on Thursday . The stock traded as high as C$7.27 and last traded at C$7.19. 1,169,978 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 926,946 shares. The stock had previously closed at C$6.52.

Ballard Power Systems Stock Up 13.7%

The business has a fifty day moving average of C$4.27 and a 200 day moving average of C$3.86. The company has a quick ratio of 13.57, a current ratio of 10.70 and a debt-to-equity ratio of 3.62. The firm has a market cap of C$2.23 billion, a P/E ratio of -27.44, a P/E/G ratio of -2,030.00 and a beta of 0.64.

Ballard Power Systems (TSE:BLDP) last issued its earnings results on Tuesday, May 5th. The company reported C($0.06) earnings per share (EPS) for the quarter. The company had revenue of C$27.00 million for the quarter. Ballard Power Systems had a negative return on equity of 13.50% and a negative net margin of 78.28%. On average, equities research analysts predict that Ballard Power Systems Inc. will post -0.67 EPS for the current year.

Insider Activity at Ballard Power Systems

In other Ballard Power Systems news, insider Limited Weichai Power Hong Kong International Development Co. sold 2,111,111 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$5.86, for a total value of C$12,371,110.46. Following the sale, the insider directly owned 44,020,601 shares in the company, valued at approximately C$257,960,721.86. This trade represents a 4.58% decrease in their ownership of the stock. Also, insider Ltd. Weichai Power Co. sold 2,399,353 shares of Ballard Power Systems stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$5.74, for a total transaction of C$13,772,286.22. Following the transaction, the insider directly owned 41,621,248 shares in the company, valued at approximately C$238,905,963.52. This represents a 5.45% decrease in their ownership of the stock. Insiders have sold a total of 9,912,997 shares of company stock worth $57,484,765 in the last three months. 15.53% of the stock is owned by insiders.

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.