Next Hydrogen Solutions (CVE:NXH) Stock Price Up 4.8% – Still a Buy?

Next Hydrogen Solutions Inc. (CVE:NXH) shot up 4.8% during trading on Wednesday . The company traded as high as C$0.44 and last traded at C$0.44. 7,500 shares traded hands during trading, a decline of 19% from the average session volume of 9,239 shares. The stock had previously closed at C$0.42.

Wall Street Analysts Forecast Growth

Separately, TD Securities lowered their price objective on shares of Next Hydrogen Solutions from C$0.75 to C$0.50 and set a “hold” rating for the company in a research report on Friday, August 16th.

Next Hydrogen Solutions Stock Performance

The stock has a 50 day moving average price of C$0.45 and a two-hundred day moving average price of C$0.53. The company has a market cap of C$11.45 million, a price-to-earnings ratio of -0.79 and a beta of 0.22. The company has a current ratio of 2.01, a quick ratio of 4.66 and a debt-to-equity ratio of 31.25.

About Next Hydrogen Solutions

Next Hydrogen Solutions Inc develops and produces water electrolyzers to work with intermittent renewable energy. The company was founded in 2007 and is headquartered in Mississauga, Canada.