Ballard Power Systems (NASDAQ:BLDP) Shares Gap Down to $2.83

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) gapped down prior to trading on Tuesday . The stock had previously closed at $2.83, but opened at $2.73. Ballard Power Systems shares last traded at $2.91, with a volume of 688,029 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BLDP shares. TD Securities cut their price objective on Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Jefferies Financial Group reduced their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, January 30th. Raymond James reduced their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Piper Sandler cut 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. Finally, Citigroup cut 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. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.94.

Ballard Power Systems Trading Up 2.8 %

The company’s 50-day moving average is $2.90 and its 200-day moving average is $3.24. The firm has a market cap of $870.93 million, a price-to-earnings ratio of -4.80 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company had revenue of $46.80 million for the quarter, compared to analyst estimates of $26.32 million. During the same quarter last year, the company earned ($0.12) EPS. The firm’s quarterly revenue was up 131.7% on a year-over-year basis. On average, research analysts predict that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC raised its position in shares of Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,000 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of Ballard Power Systems in the 3rd quarter valued at approximately $48,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after acquiring an additional 3,753 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Ballard Power Systems in the 3rd quarter valued at approximately $63,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.