Ballard Power Systems (NASDAQ:BLDP) Shares Gap Down – Time to Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) gapped down before the market opened on Friday . The stock had previously closed at $3.19, but opened at $2.94. Ballard Power Systems shares last traded at $3.1450, with a volume of 2,275,246 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on BLDP shares. Wells Fargo & Company raised their price objective on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Susquehanna increased their target price on Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a research report on Monday, October 13th. UBS Group lifted their price target on Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Lake Street Capital cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, BMO Capital Markets raised their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the company an “underperform” rating in a research report on Tuesday, August 12th. Eleven analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems currently has an average rating of “Reduce” and a consensus price target of $2.00.

Ballard Power Systems Price Performance

The stock has a market capitalization of $948.34 million, a P/E ratio of -3.19 and a beta of 1.84. The firm has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $2.16. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $17.98 million during the quarter, compared to analysts’ expectations of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. On average, analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its holdings in shares of Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after purchasing an additional 13,094 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after buying an additional 5,482 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Ballard Power Systems during the 1st quarter valued at about $40,000. Daiwa Securities Group Inc. boosted its holdings in shares of Ballard Power Systems by 108.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after acquiring an additional 19,170 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Ballard Power Systems by 254.7% in the third quarter. Baader Bank Aktiengesellschaft now owns 37,392 shares of the technology company’s stock worth $102,000 after acquiring an additional 26,851 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.