Ballard Power Systems (TSE:BLDP) Stock Price Down 3.8% – Here’s What Happened

Shares of Ballard Power Systems Inc. (TSE:BLDP) were down 3.8% during trading on Thursday. The company traded as low as C$2.73 and last traded at C$2.75. Approximately 994,006 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 1,056,744 shares. The stock had previously closed at C$2.86.

Wall Street Analyst Weigh In

Separately, National Bank Financial reduced their price objective on shares of Ballard Power Systems from C$4.75 to C$4.50 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Hold” and a consensus price target of C$4.50.

Ballard Power Systems Stock Performance

The company has a 50 day moving average price of C$3.23 and a 200-day moving average price of C$4.50. The company has a current ratio of 11.19, a quick ratio of 13.57 and a debt-to-equity ratio of 3.52. The company has a market cap of C$965.50 million, a P/E ratio of -10.58, a price-to-earnings-growth ratio of -2,030.00 and a beta of 1.03.

Ballard Power Systems (TSE:BLDP) last posted its quarterly earnings results on Friday, July 31st. The company reported C($0.10) EPS for the quarter. The business had revenue of C$29.27 million for the quarter. Ballard Power Systems had a negative return on equity of 13.17% and a negative net margin of 72.38%. On average, equities analysts expect that Ballard Power Systems Inc. will post -0.67 earnings per share for the current fiscal year.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.