Ballard Power Systems (NASDAQ:BLDP) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.40 and traded as high as $1.49. Ballard Power Systems shares last traded at $1.40, with a volume of 7,523,183 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on BLDP. Citigroup reaffirmed a "sell" rating and set a $1.00 target price (down previously from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. BMO Capital Markets cut their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a research note on Friday, March 14th. Raymond James Financial decreased their target price on shares of Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating for the company in a research report on Friday, March 14th. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a research note on Thursday, March 13th. Finally, Susquehanna reduced their price target on shares of Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Ballard Power Systems has an average rating of "Hold" and an average price target of $2.09.

Ballard Power Systems Price Performance

The business has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.40. The company has a market cap of $452.77 million, a price-to-earnings ratio of -1.48 and a beta of 1.68. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The business had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. As a group, research analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $2,508,000. Millennium Management LLC lifted its holdings in shares of Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock valued at $4,404,000 after purchasing an additional 1,177,718 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock worth $5,408,000 after buying an additional 829,012 shares during the period. Two Sigma Investments LP grew its holdings in shares of Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after buying an additional 661,413 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock valued at $1,635,000 after buying an additional 534,834 shares during the period. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.