Ballard Power Systems (NASDAQ:BLDP) Shares Down 5.5% – Time to Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) traded down 5.5% on Thursday . The stock traded as low as $4.01 and last traded at $4.14. 5,276,073 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 5,644,131 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

BLDP has been the subject of a number of analyst reports. Raymond James Financial raised their price target on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 6th. TD Cowen raised their price target on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.00 to $5.00 in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. Finally, ATB Cormark Capital Markets raised their price objective 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. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $3.59.

Ballard Power Systems Trading Down 7.1%

The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -15.08 and a beta of 2.19. The business’s fifty day moving average is $4.08 and its two-hundred day moving average is $3.05.

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

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of BLDP. Royal Bank of Canada boosted its stake in Ballard Power Systems by 29.1% in the first quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock valued at $761,000 after acquiring an additional 156,014 shares during the last quarter. Amundi boosted its stake in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after acquiring an additional 829,012 shares during the last quarter. Jane Street Group LLC boosted its stake in Ballard Power Systems by 56.2% in the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after acquiring an additional 534,834 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Ballard Power Systems by 604.4% in the second quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock valued at $757,000 after acquiring an additional 408,641 shares during the last quarter. 28.02% of the stock is owned by institutional investors.

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.