Ballard Power Systems (NASDAQ:BLDP) Trading Down 3.4%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price dropped 3.4% during trading on Thursday . The stock traded as low as $1.68 and last traded at $1.69. Approximately 136,679 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,749,932 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

BLDP has been the topic of several research analyst reports. Susquehanna dropped their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group lowered their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. National Bankshares lowered their target price on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 13th. Lake Street Capital lowered their target price on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Trading Down 0.6 %

The firm’s 50-day simple moving average is $2.06 and its 200-day simple moving average is $2.57. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $520.94 million, a PE ratio of -2.82 and a beta of 1.78.

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

Institutional Trading of Ballard Power Systems

Several institutional investors have recently added to or reduced their stakes in BLDP. Van ECK Associates Corp boosted its position in Ballard Power Systems by 19.8% during the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after buying an additional 353,098 shares during the period. Jump Financial LLC purchased a new stake in shares of Ballard Power Systems during the fourth quarter worth about $1,086,000. Rafferty Asset Management LLC boosted its holdings in shares of Ballard Power Systems by 49.5% during the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after purchasing an additional 236,449 shares during the period. Decade Renewable Partners LP purchased a new stake in shares of Ballard Power Systems during the second quarter worth about $450,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Ballard Power Systems by 25.0% during the fourth quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock worth $1,873,000 after purchasing an additional 100,700 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

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.