Ballard Power Systems (NASDAQ:BLDP) Shares Gap Down to $4.72

Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $4.72, but opened at $4.57. Ballard Power Systems shares last traded at $4.58, with a volume of 306,073 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Securities cut their target price on Ballard Power Systems from $6.50 to $5.00 and set a “hold” rating on the stock in a research report on Monday, March 20th. BMO Capital Markets reduced their price objective on Ballard Power Systems from $5.50 to $4.50 in a research note on Monday, March 20th. B. Riley dropped their target price on Ballard Power Systems from $9.00 to $6.00 in a research report on Monday, May 8th. Susquehanna reduced their price target on shares of Ballard Power Systems from $6.00 to $5.50 in a research report on Monday, March 20th. Finally, Scotiabank started coverage on shares of Ballard Power Systems in a report on Thursday, March 9th. They issued a “sector perform” rating and a $7.25 price objective on the stock. Two research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.82.

Ballard Power Systems Trading Down 3.7 %

The firm has a fifty day simple moving average of $4.79 and a 200 day simple moving average of $5.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.24 and a quick ratio of 13.31.

Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last released its quarterly earnings results on Friday, March 17th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $25.62 million. Ballard Power Systems had a negative net margin of 219.52% and a negative return on equity of 13.10%. The firm’s revenue for the quarter was down 44.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. Research analysts anticipate that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. Hartline Investment Corp acquired a new stake in Ballard Power Systems in the 4th quarter worth about $52,000. Raymond James & Associates acquired a new stake in shares of Ballard Power Systems in the fourth quarter worth approximately $60,000. Creative Planning purchased a new stake in shares of Ballard Power Systems during the third quarter worth approximately $63,000. Deutsche Bank AG raised its stake in Ballard Power Systems by 2,001.4% in the 4th quarter. Deutsche Bank AG now owns 14,710 shares of the technology company’s stock valued at $70,000 after purchasing an additional 14,010 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in Ballard Power Systems in the 1st quarter valued at $76,000. Hedge funds and other institutional investors own 31.97% of the company’s stock.

Ballard Power Systems Company Profile

(Get Rating)

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.