Ballard Power Systems (NASDAQ:BLDP) Sees Unusually-High Trading Volume

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) shares saw strong trading volume on Tuesday . 168,389 shares were traded during trading, a decline of 96% from the previous session’s volume of 3,770,412 shares.The stock last traded at $6.57 and had previously closed at $6.20.

A number of analysts recently issued reports on the stock. B. Riley dropped their target price on shares of Ballard Power Systems from $15.00 to $12.00 in a research report on Tuesday, May 10th. Raymond James decreased their price target on Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. National Bankshares decreased their price target on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. Susquehanna Bancshares increased their target price on Ballard Power Systems from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, March 10th. Finally, Piper Sandler initiated coverage on Ballard Power Systems in a research note on Wednesday, June 8th. They set a “sell” rating and a $5.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.86.

The company has a quick ratio of 14.61, a current ratio of 15.36 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $7.76 and a 200 day simple moving average of $9.98.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last announced its quarterly earnings data on Monday, May 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $24.88 million. Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. Ballard Power Systems’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. On average, equities analysts anticipate that Ballard Power Systems Inc. will post -0.53 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Fortitude Advisory Group L.L.C. bought a new stake in shares of Ballard Power Systems during the first quarter worth $25,000. Salem Investment Counselors Inc. raised its position in shares of Ballard Power Systems by 10,023.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 3,037 shares of the technology company’s stock worth $38,000 after acquiring an additional 3,007 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Ballard Power Systems by 81.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,791 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,700 shares during the last quarter. Millburn Ridgefield Corp raised its position in shares of Ballard Power Systems by 238.0% during the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock worth $52,000 after acquiring an additional 3,116 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Ballard Power Systems by 238.0% during the first quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock worth $52,000 after acquiring an additional 3,116 shares during the last quarter. Hedge funds and other institutional investors own 35.47% of the company’s stock.

About Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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