Ballard Power Systems (NASDAQ:BLDP) Stock Crosses Above 200-Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemBallard Power Systems, Inc. (NASDAQ:BLDP – Get Free Report) (TSE:BLD)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.49 and traded as high as $2.75. Ballard Power Systems shares last traded at $2.68, with a volume of 3,389,176 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on BLDP shares. Roth Capital reissued a “neutral” rating and set a $3.00 target price on shares of Ballard Power Systems in a research report on Friday, November 14th. HSBC set a $3.40 target price on Ballard Power Systems in a research report on Thursday, October 9th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a report on Friday, November 14th. Susquehanna upped their price objective on shares of Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a report on Monday, October 13th. Finally, UBS Group increased their price objective on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Eleven equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.21.
Get Our Latest Stock Report on BLDP
Ballard Power Systems Price Performance
The stock has a fifty day moving average of $2.93 and a 200 day moving average of $2.50. The stock has a market cap of $805.98 million, a price-to-earnings ratio of -6.70 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53.
Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last issued its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $23.76 million. On average, analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.
Institutional Investors Weigh In On Ballard Power Systems
Several hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its stake in shares of Ballard Power Systems by 125.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after buying an additional 13,094 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Ballard Power Systems during the first quarter valued at approximately $40,000. Hudson Bay Capital Management LP purchased a new position in Ballard Power Systems during the third quarter valued at approximately $43,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after acquiring an additional 5,482 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Ballard Power Systems by 108.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after purchasing an additional 19,170 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.
About Ballard Power Systems
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.