Next Hydrogen Solutions (CVE:NXH) Shares Up 1.9% – Here’s Why

Next Hydrogen Solutions Inc. (CVE:NXH) shares shot up 1.9% during trading on Tuesday . The company traded as high as C$0.54 and last traded at C$0.54. 1,165 shares changed hands during trading, a decline of 87% from the average session volume of 9,267 shares. The stock had previously closed at C$0.53.

Wall Street Analyst Weigh In

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

Next Hydrogen Solutions Stock Performance

The company has a debt-to-equity ratio of 31.25, a quick ratio of 4.66 and a current ratio of 2.01. The stock’s fifty day moving average is C$0.44 and its two-hundred day moving average is C$0.55. The firm has a market cap of C$12.37 million, a price-to-earnings ratio of -0.96 and a beta of 0.22.

Next Hydrogen Solutions (CVE:NXH) last released its earnings results on Thursday, August 15th. The company reported C($0.17) EPS for the quarter. The business had revenue of C$0.55 million for the quarter. On average, analysts expect that Next Hydrogen Solutions Inc. will post -0.6 earnings per share for the current fiscal year.

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.