Ballard Power Systems (NASDAQ:BLDP) Trading Down 4.1% – Should You Sell?
by Renee Jackson · The Cerbat GemShares of Ballard Power Systems, Inc. (NASDAQ:BLDP – Get Free Report) (TSE:BLD) dropped 4.1% during trading on Monday . The company traded as low as $2.64 and last traded at $2.6950. Approximately 1,640,246 shares changed hands during trading, a decline of 48% from the average daily volume of 3,160,871 shares. The stock had previously closed at $2.81.
Analysts Set New Price Targets
Several research analysts have recently weighed in on BLDP shares. Wells Fargo & Company lifted their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. TD Cowen raised Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, January 9th. TD Securities upgraded Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $2.48.
Check Out Our Latest Analysis on Ballard Power Systems
Ballard Power Systems Price Performance
The company has a quick ratio of 9.14, a current ratio of 9.86 and a debt-to-equity ratio of 0.03. The firm has a market cap of $886.35 million, a PE ratio of -9.80 and a beta of 1.68. The firm’s fifty day simple moving average is $2.31 and its two-hundred day simple moving average is $2.73.
Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last announced its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $33.28 million during the quarter, compared to analysts’ expectations of $32.24 million. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. As a group, research analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.
Institutional Investors Weigh In On Ballard Power Systems
A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its position in shares of Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Ballard Power Systems during the fourth quarter worth about $26,000. Intesa Sanpaolo S.p.A. bought a new stake in Ballard Power Systems during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after purchasing an additional 12,149 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Ballard Power Systems in the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.
Ballard Power Systems Company Profile
Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.
Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.