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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) were down 6.3% on Friday . The company traded as low as $4.77 and last traded at $4.80. Approximately 465,802 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,632,514 shares. The stock had previously closed at $5.12.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLDP. National Bankshares cut their target price on Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 17th. Wells Fargo & Company downgraded Ballard Power Systems from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $6.00 to $5.00 in a research note on Friday, January 6th. BMO Capital Markets began coverage on Ballard Power Systems in a research note on Thursday, December 8th. They issued a “market perform” rating and a $5.50 target price for the company. Truist Financial cut their target price on Ballard Power Systems from $7.00 to $6.00 in a research note on Wednesday. Finally, Scotiabank began coverage on Ballard Power Systems in a research note on Thursday, March 9th. They issued a “sector perform” rating and a $7.25 target price for the company. Two research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and a consensus price target of $7.25.

Ballard Power Systems Stock Performance

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -8.02 and a beta of 1.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.65 and a current ratio of 14.44. The firm has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $5.98.

Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last released its earnings results on Friday, March 17th. The technology company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $25.62 million. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. Ballard Power Systems’s revenue was down 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS. On average, sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kepos Capital LP boosted its stake in shares of Ballard Power Systems by 13.3% in the 4th quarter. Kepos Capital LP now owns 23,964 shares of the technology company’s stock valued at $116,000 after buying an additional 2,816 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Ballard Power Systems by 6.3% in the 4th quarter. Advisors Asset Management Inc. now owns 49,742 shares of the technology company’s stock valued at $238,000 after buying an additional 2,940 shares during the period. Bruni J V & Co. Co. boosted its stake in shares of Ballard Power Systems by 0.6% in the 3rd quarter. Bruni J V & Co. Co. now owns 617,916 shares of the technology company’s stock valued at $3,782,000 after buying an additional 3,468 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Ballard Power Systems by 4.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 106,550 shares of the technology company’s stock valued at $510,000 after buying an additional 4,958 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ballard Power Systems by 4.4% in the 1st quarter. JPMorgan Chase & Co. now owns 135,193 shares of the technology company’s stock valued at $1,574,000 after buying an additional 5,739 shares during the period. Hedge funds and other institutional investors own 31.97% of the company’s stock.

Ballard Power Systems Company Profile

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.