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

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

Ballard Power Systems Stock Performance

The firm has a market capitalization of C$2.31 billion, a PE ratio of -28.37, a P/E/G ratio of -2,030.00 and a beta of 0.64. The company has a debt-to-equity ratio of 3.62, a current ratio of 10.70 and a quick ratio of 13.57. The firm has a fifty day moving average price of C$4.46 and a 200 day moving average price of C$3.91.

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

Insider Buying and Selling at Ballard Power Systems

In other news, insider Ltd. Weichai Power Co. sold 923,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$5.67, for a total transaction of C$5,233,410.00. Following the completion of the sale, the insider directly owned 34,999,826 shares of the company’s stock, valued at C$198,449,013.42. This represents a 2.57% decrease in their ownership of the stock. Also, insider Limited Weichai Power Hong Kong International Development Co. sold 2,111,111 shares of the company’s 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 of the company’s stock, valued at approximately C$257,960,721.86. This represents a 4.58% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 9,912,997 shares of company stock valued at $57,484,765. 15.53% of the stock is currently owned by company 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.