Ballard Power Systems (TSE:BLDP) Shares Down 4.6%

Ballard Power Systems Inc. (TSE:BLDPGet Rating)’s share price dropped 4.6% during trading on Thursday . The company traded as low as C$7.70 and last traded at C$7.87. Approximately 304,939 shares traded hands during trading, a decline of 60% from the average daily volume of 758,918 shares. The stock had previously closed at C$8.25.

Analyst Ratings Changes

BLDP has been the topic of a number of analyst reports. Citigroup reduced their price objective on Ballard Power Systems to C$7.50 and set a “hold” rating on the stock in a research report on Tuesday, October 4th. Wells Fargo & Company downgraded Ballard Power Systems to a “sell” rating and set a C$5.00 price objective on the stock. in a research report on Friday, January 6th. Truist Financial reiterated a “hold” rating and set a C$7.00 price objective on shares of Ballard Power Systems in a research report on Tuesday, October 18th. Finally, Susquehanna Bancshares reduced their price objective on Ballard Power Systems to C$9.00 and set a “hold” rating on the stock in a research report on Monday, October 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$9.59.

Ballard Power Systems Price Performance

The company has a quick ratio of 13.57, a current ratio of 14.44 and a debt-to-equity ratio of 1.32. The company has a market cap of C$2.30 billion and a PE ratio of -12.90. The stock has a 50-day simple moving average of C$7.55 and a 200 day simple moving average of C$8.60.

Insider Buying and Selling at Ballard Power Systems

In other news, Senior Officer Kevin Michael Colbow sold 24,752 shares of Ballard Power Systems stock in a transaction on Thursday, November 24th. The stock was sold at an average price of C$8.14, for a total value of C$201,431.78. Following the completion of the sale, the insider now directly owns 72,144 shares of the company’s stock, valued at C$587,107.87.

Ballard Power Systems Company Profile

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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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