Ballard Power Systems (TSE:BLDP) Shares Up 2.2% – Still a Buy?

Ballard Power Systems Inc. (TSE:BLDP)’s share price shot up 2.2% during trading on Thursday . The company traded as high as C$3.28 and last traded at C$3.25. 542,736 shares changed hands during trading, a decline of 51% from the average daily volume of 1,099,385 shares. The stock had previously closed at C$3.18.

Analyst Ratings Changes

Separately, National Bank Financial cut their price target on shares of Ballard Power Systems from C$4.75 to C$4.50 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ballard Power Systems has a consensus rating of “Hold” and an average price target of C$4.50.

Ballard Power Systems Price Performance

The firm has a market cap of C$979.80 million, a PE ratio of -12.50, a price-to-earnings-growth ratio of -2,030.00 and a beta of 1.11. The stock has a 50 day simple moving average of C$4.20 and a two-hundred day simple moving average of C$4.49. The company has a debt-to-equity ratio of 3.52, a quick ratio of 13.57 and a current ratio of 11.19.

Ballard Power Systems (TSE:BLDP) last issued its earnings results on Friday, July 31st. The company reported C($0.10) EPS for the quarter. The company had revenue of C$29.27 million during the quarter. Ballard Power Systems had a negative return on equity of 13.17% and a negative net margin of 72.38%. Sell-side analysts expect that Ballard Power Systems Inc. will post -0.67 earnings per share for the current year.

Insider Activity at Ballard Power Systems

In other news, insider Ltd. Weichai Power Co. sold 151,350 shares of Ballard Power Systems stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of C$4.99, for a total transaction of C$755,236.50. Following the completion of the transaction, the insider directly owned 30,951,476 shares of the company’s stock, valued at C$154,447,865.24. The trade was a 0.49% decrease in their position. 15.53% of the stock is owned by insiders.

Ballard Power Systems Company Profile

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.