Ballard Power Systems (NASDAQ:BLDP) Trading Down 7% – Time to Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) dropped 7% during trading on Monday . The company traded as low as $4.01 and last traded at $4.1380. Approximately 2,506,992 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 4,501,963 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

BLDP has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a report on Friday, March 27th. BMO Capital Markets upped their price objective on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a report on Wednesday, May 6th. ATB Cormark Capital Markets upped their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. Finally, TD Cowen upped their price objective on Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $3.51.

Ballard Power Systems Stock Down 7.9%

The firm has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $2.78. The company has a market capitalization of $1.24 billion, a P/E ratio of -15.11 and a beta of 1.94. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its holdings 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 worth $25,000 after acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new position in shares of Ballard Power Systems during the fourth quarter worth about $26,000. Ground Swell Capital LLC acquired a new position in shares of Ballard Power Systems during the first quarter worth about $26,000. Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems during the fourth quarter worth about $28,000. Finally, Cetera Investment Advisers acquired a new position in shares of Ballard Power Systems during the first quarter worth about $33,000. 28.02% of the stock is currently owned by institutional investors.

About Ballard Power Systems

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.