Ballard Power Systems Inc. (TSE:BLDP – Get Free Report)’s share price shot up 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.
Wall Street Analyst Weigh In
Separately, National Bank Financial lowered their target price on Ballard Power Systems from C$4.75 to C$4.50 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$4.50.
Check Out Our Latest Research Report on BLDP
Ballard Power Systems Stock Down 3.4%
Ballard Power Systems (TSE:BLDP – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported C($0.10) earnings per share (EPS) for the quarter. Ballard Power Systems had a negative return on equity of 13.17% and a negative net margin of 72.38%.The firm had revenue of C$29.27 million for the quarter. Research analysts predict that Ballard Power Systems Inc. will post -0.67 EPS for the current year.
Insider Transactions at Ballard Power Systems
In related news, insider Ltd. Weichai Power Co. sold 151,350 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$4.99, for a total value of C$755,236.50. Following the completion of the sale, the insider directly owned 30,951,476 shares in the company, valued at approximately C$154,447,865.24. This trade represents a 0.49% decrease in their position. Company insiders own 15.53% of the company’s stock.
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.
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