Ballard Power Systems (NASDAQ:BLDP) Hits New 1-Year High - Time to Buy?

Key Points

• Ballard Power Systems shares recently reached a new 52-week high of $3.60, closing at $3.53, reflecting a significant price increase from its previous close of $2.87.
• Several analysts have lifted their price targets for Ballard Power Systems, with consensus ratings mostly leaning towards "hold" and a target price averaging around $1.51.
• The company reported a revenue of $17.98 million for the last quarter, exceeding forecasts, though it continues to face challenges with a negative net margin and return on equity.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's share price reached a new 52-week high on Saturday . The stock traded as high as $3.60 and last traded at $3.53, with a volume of 19203785 shares trading hands. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLDP. Susquehanna lifted their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Saturday, September 27th. Roth Capital increased their price target on Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a report on Monday, August 11th. Wells Fargo & Company boosted their price objective on shares of Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Finally, National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. Ten equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Ballard Power Systems has a consensus rating of "Reduce" and a consensus target price of $1.51.

Ballard Power Systems Trading Up 23.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32. The firm has a market cap of $1.06 billion, a PE ratio of -3.57 and a beta of 1.80. The company's 50 day moving average price is $2.17 and its 200 day moving average price is $1.69.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The business had revenue of $17.98 million during the quarter, compared to the consensus estimate of $17.94 million. As a group, analysts forecast that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BLDP. Vanguard Personalized Indexing Management LLC increased its holdings in shares of 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 valued at $48,000 after acquiring an additional 5,482 shares during the last quarter. Alps Advisors Inc. raised its holdings in Ballard Power Systems by 2.1% during the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock worth $437,000 after purchasing an additional 8,265 shares in the last quarter. Amundi lifted 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 worth $74,000 after buying an additional 9,454 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Ballard Power Systems by 8.5% during the 1st quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company's stock worth $136,000 after buying an additional 9,626 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock valued at $37,000 after buying an additional 13,094 shares in the last quarter. 28.02% of the stock is 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.

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