Ballard Power Systems (NASDAQ:BLDP) Sets New 52-Week Low – Here’s What Happened

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $1.55 and last traded at $1.5550, with a volume of 295,227 shares traded. The stock had previously closed at $1.57.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective on the stock in a research note on Monday, August 3rd. Susquehanna lowered their target price on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. UBS Group cut their price target on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Thursday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $3.30.

Ballard Power Systems Trading Down 1.6%

The firm has a market cap of $542.78 million, a PE ratio of -5.94 and a beta of 2.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The business has a 50-day moving average price of $2.21 and a two-hundred day moving average price of $3.20.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The firm had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Analysts forecast that Ballard Power Systems, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently added to or reduced their stakes in BLDP. Legal & General Group Plc bought a new stake in shares of Ballard Power Systems during the 2nd quarter worth $28,144,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ballard Power Systems by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,549 shares of the technology company’s stock worth $4,431,000 after buying an additional 283,684 shares during the period. Man Group plc acquired a new stake in shares of Ballard Power Systems in the second quarter worth $4,629,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ballard Power Systems in the second quarter valued at $3,392,000. Finally, Bank of America Corp DE acquired a new stake in Ballard Power Systems in the 2nd quarter valued at $3,231,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.