Ballard Power Systems (NASDAQ:BLDP) Reaches New 52-Week Low at $1.76

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.76 and last traded at $1.77, with a volume of 1554872 shares traded. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

BLDP has been the topic of a number of analyst reports. BMO Capital Markets lowered their price target on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research report on Tuesday, August 13th. Susquehanna lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Raymond James cut their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Truist Financial reduced their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Finally, TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $2.50 to $1.50 in a report on Monday, August 12th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Ballard Power Systems currently has an average rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Stock Performance

The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The company has a market cap of $500.01 million, a price-to-earnings ratio of -2.73 and a beta of 1.78. The stock has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $2.62.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) EPS. Analysts predict that Ballard Power Systems Inc. will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently bought and sold shares of the company. Endowment Wealth Management Inc. bought a new stake in shares of Ballard Power Systems in the 1st quarter valued at $28,000. Tidal Investments LLC acquired a new position in Ballard Power Systems in the first quarter valued at about $39,000. Westwood Holdings Group Inc. bought a new stake in shares of Ballard Power Systems in the first quarter worth about $59,000. Scientech Research LLC bought a new stake in shares of Ballard Power Systems in the second quarter worth about $52,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the period. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Ballard Power Systems

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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.