Ballard Power Systems (NASDAQ:BLDP) Sees Unusually-High Trading Volume – Here’s Why

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) saw unusually-high trading volume on Friday . Approximately 7,240,183 shares changed hands during trading, an increase of 46% from the previous session’s volume of 4,958,125 shares.The stock last traded at $5.7850 and had previously closed at $5.43.

Analyst Ratings Changes

BLDP has been the topic of several research analyst reports. Raymond James Financial raised their price objective on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th. Susquehanna raised their price objective on Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a research note on Wednesday. National Bank Financial raised their price objective on Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $3.59.

Ballard Power Systems Price Performance

The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -21.17 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The business has a fifty day moving average price of $3.18 and a 200 day moving average price of $2.81.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%. On average, research analysts expect that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BLDP. BNP Paribas Financial Markets grew its holdings in Ballard Power Systems by 204.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock worth $10,145,000 after acquiring an additional 2,682,355 shares during the period. Invesco Ltd. grew its holdings in Ballard Power Systems by 48.6% during the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after acquiring an additional 1,625,542 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Ballard Power Systems by 117.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock worth $4,327,000 after acquiring an additional 1,467,547 shares during the period. Goldman Sachs Group Inc. grew its holdings in Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after acquiring an additional 829,012 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Ballard Power Systems by 104.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,418,389 shares of the technology company’s stock worth $3,603,000 after acquiring an additional 726,188 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

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.