Ballard Power Systems (NASDAQ:BLDP) Shares Down 5.3%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) dropped 5.3% on Tuesday . The company traded as low as $2.32 and last traded at $2.32. Approximately 2,389,706 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 2,847,130 shares. The stock had previously closed at $2.45.

Wall Street Analysts Forecast Growth

BLDP has been the subject of a number of recent analyst reports. Raymond James decreased their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. HSBC decreased their price objective on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a report on Wednesday, May 8th. TD Securities lifted their target price on shares of Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Truist Financial reaffirmed a “hold” rating and issued a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday, May 8th. Finally, National Bankshares cut their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.59.

Ballard Power Systems Price Performance

The firm’s fifty day simple moving average is $2.81 and its 200 day simple moving average is $3.08. The firm has a market cap of $682.61 million, a P/E ratio of -3.68 and a beta of 1.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same period last year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems in the 1st quarter valued at about $28,000. Headlands Technologies LLC bought a new stake in Ballard Power Systems in the fourth quarter worth about $31,000. FNY Investment Advisers LLC lifted its stake in Ballard Power Systems by 5,000.0% in the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after purchasing an additional 10,000 shares during the last quarter. Tidal Investments LLC bought a new stake in Ballard Power Systems in the first quarter worth about $39,000. Finally, Westwood Holdings Group Inc. bought a new stake in Ballard Power Systems in the first quarter worth about $59,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.