Ballard Power Systems (TSE:BLDP) Trading 18.7% Higher - Here's What Happened

Key Points

• Ballard Power Systems' stock surged by 18.7% on Friday, reaching a high of C$4.87 before settling at C$4.77, significantly up from the previous close of C$4.02.
• The company has a market capitalization of C$1.48 billion and operates with a negative price-to-earnings ratio of -4.97, highlighting ongoing financial challenges.
• Insider David Mucciacciaro sold 21,346 shares of the company's stock, effectively decreasing his ownership by 89.61%, leaving him with just 2,476 shares valued at approximately C$7,016.98.

Ballard Power Systems Inc. (TSE:BLDP - ) traded up 18.7% during mid-day trading on Friday . The stock traded as high as C$4.87 and last traded at C$4.77. 782,051 shares traded hands during trading, a decline of 7% from the average session volume of 837,348 shares. The stock had previously closed at C$4.02.

Ballard Power Systems Trading Up 22.4%

The business's fifty day moving average is C$2.97 and its two-hundred day moving average is C$2.31. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of -4.97, a price-to-earnings-growth ratio of -2,030.00 and a beta of 1.59. The company has a quick ratio of 13.57, a current ratio of 9.01 and a debt-to-equity ratio of 3.82.

Insider Activity

In other Ballard Power Systems news, insider David Mucciacciaro sold 21,346 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of C$2.83, for a total transaction of C$60,494.56. Following the transaction, the insider owned 2,476 shares in the company, valued at approximately C$7,016.98. This trade represents a 89.61% decrease in their ownership of the stock. Company insiders own 15.53% of the company's stock.

About Ballard Power Systems

Ballard is a world leader in proton exchange membrane fuel cell, power system development, and commercialization. The company's principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on power product markets of heavy-duty motive (consisting of bus, truck, rail, and marine applications), material handling, and stationary power generation.

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