Investors Buy High Volume of Ballard Power Systems Call Options (NASDAQ:BLDP)

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was the recipient of unusually large options trading on Friday. Traders purchased 5,512 call options on the stock. This is an increase of approximately 341% compared to the average daily volume of 1,251 call options.

Wall Street Analyst Weigh In

BLDP has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Raymond James Financial lifted their price target on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. National Bank Financial lifted their price target on Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. Finally, ATB Cormark Capital Markets lifted their price target on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of “Reduce” and a consensus price target of $3.51.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently bought and sold shares of BLDP. Royal Bank of Canada raised its position in Ballard Power Systems by 29.1% in the 1st quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock worth $761,000 after buying an additional 156,014 shares during the last quarter. Amundi increased its position in shares of Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after purchasing an additional 9,454 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the last quarter. Jane Street Group LLC increased its position in shares of Ballard Power Systems by 56.2% during the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 534,834 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ballard Power Systems by 604.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock valued at $757,000 after purchasing an additional 408,641 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $4.45 on Friday. Ballard Power Systems has a fifty-two week low of $1.24 and a fifty-two week high of $4.86. The business has a 50-day simple moving average of $2.96 and a two-hundred day simple moving average of $2.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -16.48 and a beta of 1.94.

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

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.