Ballard Power Systems (NASDAQ:BLDP) Shares Down 5.3%

Ballard Power Systems Inc. (NASDAQ:BLDPGet Free Report) (TSE:BLD) shares fell 5.3% during trading on Tuesday . The company traded as low as $2.32 and last traded at $2.32. 2,389,706 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 2,847,130 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

A number of research firms recently commented on BLDP. CIBC decreased their price objective on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Wells Fargo & Company decreased their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, May 9th. Citigroup decreased their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Jefferies Financial Group decreased their target price on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Piper Sandler decreased their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.59.

View Our Latest Research Report on BLDP

Ballard Power Systems Stock Performance

The stock’s 50-day moving average price is $2.83 and its 200-day moving average price is $3.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66. The company has a market capitalization of $682.61 million, a price-to-earnings ratio of -3.71 and a beta of 1.79.

Ballard Power Systems (NASDAQ:BLDPGet Free Report) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Ballard Power Systems’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. purchased a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $59,000. Tidal Investments LLC purchased a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $39,000. Toronto Dominion Bank increased its stake 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Ballard Power Systems by 7.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock worth $1,572,000 after purchasing an additional 38,662 shares in the last quarter. Finally, Endowment Wealth Management Inc. purchased a new stake in Ballard Power Systems in the 1st quarter worth approximately $28,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

(Get Free Report)

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.

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