Ballard Power Systems (NASDAQ:BLDP) Reaches New 1-Year Low – Should You Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares reached a new 52-week low during trading on Thursday. The stock traded as low as $1.92 and last traded at $1.9250, with a volume of 1,616,174 shares traded. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

BLDP has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Friday, July 17th. Zacks Research cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Susquehanna cut their price objective on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. Finally, UBS Group decreased their target price on shares of Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Buy rating, ten have issued 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 target price of $3.39.

Ballard Power Systems Stock Performance

The business has a 50 day simple moving average of $2.30 and a 200 day simple moving average of $3.22. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $671.01 million, a PE ratio of -7.35 and a beta of 2.26.

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

Institutional Trading of Ballard Power Systems

Several large investors have recently bought and sold shares of BLDP. Legal & General Group Plc purchased a new position in Ballard Power Systems in the 2nd quarter worth $28,144,000. Dimensional Fund Advisors LP grew its stake in 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 valued at $4,431,000 after purchasing an additional 283,684 shares during the last quarter. Man Group plc purchased a new stake in Ballard Power Systems during the 2nd quarter valued at about $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 about $3,392,000. Finally, Bank of America Corp DE acquired a new position in shares of Ballard Power Systems in the second quarter valued at about $3,231,000. Hedge funds and other 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.