Ballard Power Systems (NASDAQ:BLDP) Shares Down 3.9%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price traded down 3.9% during trading on Thursday . The stock traded as low as $1.71 and last traded at $1.71. 108,762 shares were traded during mid-day trading, a decline of 96% from the average session volume of 2,795,060 shares. The stock had previously closed at $1.78.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $2.50 to $1.50 in a report on Monday, August 12th. National Bankshares dropped their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets dropped their price objective on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a report on Tuesday, August 13th. Finally, Lake Street Capital dropped their price objective on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and an average price target of $3.01.

Ballard Power Systems Stock Performance

The business’s 50-day moving average is $1.86 and its 200 day moving average is $2.44. The company has a market cap of $498.52 million, a PE ratio of -2.87 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share (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 previous year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently modified their holdings of the company. TD Asset Management Inc boosted its stake in shares of Ballard Power Systems by 3.7% during the 4th quarter. TD Asset Management Inc now owns 680,378 shares of the technology company’s stock valued at $2,533,000 after purchasing an additional 24,287 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Ballard Power Systems by 25.0% during the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after purchasing an additional 100,700 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $148,000. CIBC Asset Management Inc boosted its stake in shares of Ballard Power Systems by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after purchasing an additional 7,060 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Ballard Power Systems by 49.5% during the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock valued at $2,642,000 after purchasing an additional 236,449 shares in 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.