Ballard Power Systems (NASDAQ:BLDP) Trading Up 6.3%


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Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) were up 6.3% during trading on Thursday . The stock traded as high as $24.73 and last traded at $24.72. Approximately 195,303 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 6,961,579 shares. The stock had previously closed at $23.26.

BLDP has been the topic of several recent analyst reports. Piper Sandler assumed coverage on Ballard Power Systems in a research note on Wednesday, January 27th. They issued a “neutral” rating and a $31.00 price target on the stock. TheStreet lowered Ballard Power Systems from a “c-” rating to a “d+” rating in a research report on Friday, March 5th. CIBC assumed coverage on Ballard Power Systems in a research report on Monday, February 1st. They set a “neutral” rating and a $38.00 target price on the stock. National Bank Financial lowered their target price on Ballard Power Systems from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, March 12th. Finally, Zacks Investment Research lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.17.

The firm has a market capitalization of $7.34 billion, a PE ratio of -122.85 and a beta of 1.74. The business has a 50-day moving average of $25.90 and a 200 day moving average of $23.59. The company has a current ratio of 9.10, a quick ratio of 8.36 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, March 9th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $28.59 million during the quarter, compared to analysts’ expectations of $29.55 million. Ballard Power Systems had a negative net margin of 40.04% and a negative return on equity of 14.00%. On average, sell-side analysts expect that Ballard Power Systems Inc. will post -0.19 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC bought a new position in Ballard Power Systems in the 4th quarter valued at $29,000. Advisory Services Network LLC grew its stake in Ballard Power Systems by 488.6% in the 4th quarter. Advisory Services Network LLC now owns 2,060 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,710 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Ballard Power Systems by 96.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,750 shares of the technology company’s stock valued at $64,000 after purchasing an additional 1,350 shares during the period. Ecofin Advisors Ltd bought a new position in Ballard Power Systems in the 3rd quarter valued at $92,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Ballard Power Systems in the 4th quarter valued at $109,000. 18.38% of the stock is owned by institutional investors and hedge funds.

About Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products.

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