Ballard Power Systems Inc (TSX: BLD), a fuel cell maker, is today’s top stock that gained strong share price momentum breaking the short term 50-DMA after receiving a new coverage at Jennings Capital. The company’s shares gained over 7% during the last two consecutive trading days with a greater than average number of shares exchanging hands. During the last trading session, BLD was the top performer in the Canadian energy space having gained 16.8% breaking the short term 50-DMA at C$3.91 and ended at C$4.51 while recording huge volumes of 2.3 million shares. During the last 5-trading session, the stock climbed 22.9% with 5-day daily average trading volumes of 715,768 shares, while the stock accumulated over 27% during the past one month with daily average trading volumes of 621,082 shares. The stock has rallied of over 180% year-to-date. Yesterday, the stock soared after the research firm Jennings Capital started coverage on the stock with a buy rating assigning a 12-month price target of $4.35, an implied upside of 12.6% on previous day’s close.
Company Description:
Ballard Power Systems Inc (TSX: BLD) designs, develops, manufactures, sells and service hydrogen fuel cells for a range of applications. The company’s products and services are used in many industries such as materials handling, residential cogeneration, backup power and transportation.
1-Year Stock Chart:
Source: Bloomberg
