Ballard Power Systems (NASDAQ:BLDP) Stock Price Down 4.8%

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) traded down 4.8% on Monday . The company traded as low as $1.88 and last traded at $1.90. 1,303,294 shares were traded during mid-day trading, a decline of 53% from the average session volume of 2,796,823 shares. The stock had previously closed at $1.99.

Analyst Ratings Changes

BLDP has been the subject of a number of recent research reports. CIBC reiterated an “underperformer” rating and issued a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a research note on Tuesday, August 13th. Jefferies Financial Group cut their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. HSBC cut their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Raymond James lowered their price target on 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. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $3.11.

Ballard Power Systems Stock Down 3.2 %

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 stock has a market capitalization of $541.90 million, a PE ratio of -2.92 and a beta of 1.77. The firm’s fifty day moving average is $2.18 and its 200-day moving average is $2.67.

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

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Ballard Power Systems in the 4th quarter worth about $192,000. Jump Financial LLC purchased a new stake in shares of Ballard Power Systems in the fourth quarter valued at about $1,086,000. CIBC Asset Management Inc grew its position in shares of Ballard Power Systems by 2.9% in the fourth quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after purchasing an additional 7,060 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Ballard Power Systems by 19.8% during the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after purchasing an additional 353,098 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Ballard Power Systems by 182.8% during the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock worth $96,000 after purchasing an additional 22,273 shares during the last quarter. 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.