Ballard Power Systems (NASDAQ:BLDP) Trading Up 6.6%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price was up 6.6% on Friday . The stock traded as high as $1.87 and last traded at $1.87. Approximately 919,478 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 2,779,617 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of research analyst reports. Lake Street Capital reduced their price objective on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price objective for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Wells Fargo & Company decreased their target price on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. Finally, National Bankshares lowered their target price on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.11.

Ballard Power Systems Trading Up 6.0 %

The stock’s 50 day moving average is $1.90 and its 200-day moving average is $2.47. The company has a market cap of $555.41 million, a P/E ratio of -3.02 and a beta of 1.78. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts anticipate that Ballard Power Systems Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Endowment Wealth Management Inc. bought a new stake in Ballard Power Systems in the 1st quarter worth about $28,000. Tidal Investments LLC bought a new position in Ballard Power Systems during the 1st quarter valued at about $39,000. Westwood Holdings Group Inc. purchased a new stake in shares of Ballard Power Systems during the 1st quarter valued at about $59,000. Scientech Research LLC bought a new stake in shares of Ballard Power Systems in the second quarter worth approximately $52,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.