Stock Traders Purchase Large Volume of Call Options on Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was the target of unusually large options trading activity on Friday. Stock traders acquired 5,512 call options on the stock. This represents an increase of 341% compared to the typical daily volume of 1,251 call options.

Analysts Set New Price Targets

Several research analysts recently weighed in on BLDP shares. ATB Cormark Capital Markets boosted their price target on shares of Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. National Bank Financial lifted their price objective on shares of Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Raymond James Financial lifted their price objective on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets lifted their price objective on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Ballard Power Systems currently has an average rating of “Reduce” and a consensus price target of $3.51.

Ballard Power Systems Stock Performance

BLDP stock traded down $0.14 during mid-day trading on Friday, hitting $4.00. The company had a trading volume of 3,580,239 shares, compared to its average volume of 4,219,427. The firm has a market cap of $1.20 billion, a PE ratio of -14.80 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. Ballard Power Systems has a 12 month low of $1.24 and a 12 month high of $4.86. The stock’s fifty day moving average price is $2.92 and its two-hundred day moving average price is $2.77.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The business had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. On average, analysts forecast that Ballard Power Systems will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Ballard Power Systems by 45.3% in the third quarter. JPMorgan Chase & Co. now owns 692,201 shares of the technology company’s stock valued at $1,883,000 after purchasing an additional 215,954 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Ballard Power Systems in the first quarter valued at approximately $1,362,000. Dimensional Fund Advisors LP raised its position in shares of Ballard Power Systems by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,831,549 shares of the technology company’s stock valued at $4,431,000 after purchasing an additional 283,684 shares during the period. Hsbc Holdings PLC raised its position in shares of Ballard Power Systems by 24.4% in the fourth quarter. Hsbc Holdings PLC now owns 151,574 shares of the technology company’s stock valued at $385,000 after purchasing an additional 29,699 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the period. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.