Ballard Power Systems (NASDAQ:BLDP) Trading Down 3.7%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was down 3.7% during trading on Friday . The stock traded as low as $1.68 and last traded at $1.69. Approximately 70,704 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 2,764,560 shares. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BLDP shares. National Bankshares cut 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 report on Tuesday, August 13th. Raymond James cut their target price on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Susquehanna cut their target price on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. CIBC restated an “underperformer” rating and set a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. Finally, Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.11.

Ballard Power Systems Price Performance

The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $497.02 million, a P/E ratio of -2.82 and a beta of 1.78. The stock has a 50 day moving average of $1.98 and a 200-day moving average of $2.52.

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

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Ballard Power Systems during the 4th quarter worth approximately $192,000. CIBC Asset Management Inc raised its position in 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. Van ECK Associates Corp raised its position in Ballard Power Systems by 19.8% during the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after purchasing an additional 353,098 shares in the last quarter. Toronto Dominion Bank raised its position in Ballard Power Systems by 182.8% during the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock valued at $96,000 after purchasing an additional 22,273 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after purchasing an additional 8,549 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

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.