Ballard Power Systems (TSE:BLDP) Hits New 1-Year High – Here’s Why

Ballard Power Systems Inc. (TSE:BLDP)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$8.86 and last traded at C$8.80, with a volume of 1129808 shares changing hands. The stock had previously closed at C$8.42.

Ballard Power Systems Stock Up 2.9%

The business’s 50 day simple moving average is C$4.75 and its 200-day simple moving average is C$3.97. The company has a market cap of C$2.61 billion, a price-to-earnings ratio of -32.07, a price-to-earnings-growth ratio of -2,030.00 and a beta of 0.64. The company has a debt-to-equity ratio of 3.62, a quick ratio of 13.57 and a current ratio of 10.70.

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 net margin of 78.28% and a negative return on equity of 13.50%. Sell-side analysts expect that Ballard Power Systems Inc. will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Limited Weichai Power Hong Kong International Development Co. sold 2,111,111 shares of Ballard Power Systems 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 transaction, the insider owned 44,020,601 shares in the company, valued at C$257,960,721.86. This trade represents a 4.58% decrease in their position. 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 completion of the transaction, the insider owned 41,621,248 shares in the company, valued at C$238,905,963.52. This trade represents a 5.45% decrease in their position. Insiders have sold a total of 9,912,997 shares of company stock worth $57,484,765 in the last 90 days. 15.53% of the stock is owned by insiders.

About Ballard Power Systems

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.