Ballard Power Systems (NASDAQ:BLDP) Shares Down 4.1% - What's Next?

Key Points

• Shares fell 4.1% intraday to as low as $2.64 (last $2.695) on Monday with 1.64M shares traded (about 48% below average); market cap is roughly $815M and the 50-/200‑day SMAs are $2.29 and $2.73.
• Analyst consensus is a "Reduce" rating with a $2.48 average price target — 10 analysts at Hold, 4 at Sell — and recent notes include TD Cowen/TD Securities moving from Sell to Hold while Weiss reaffirmed a Sell.
• Ballard beat the quarter with EPS of -$0.06 (vs. -$0.07 est.) and revenue of $33.28M, but remains unprofitable (net margin -91.5%, ROE -14.6%) despite strong liquidity (current ratio ~9.9) and very low debt (debt/equity 0.03); analysts forecast -0.54 EPS for the year.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares fell 4.1% during mid-day trading on Monday . The company traded as low as $2.64 and last traded at $2.6950. 1,640,246 shares changed hands during trading, a decline of 48% from the average session volume of 3,160,871 shares. The stock had previously closed at $2.81.

Analysts Set New Price Targets

A number of research firms have issued reports on BLDP. TD Cowen raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a research report on Friday, January 9th. Wells Fargo & Company raised their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a research report on Friday, March 27th. TD Securities raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price target for the company in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $2.48.

Ballard Power Systems Stock Down 3.7%

The company has a current ratio of 9.86, a quick ratio of 9.14 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $815.49 million, a PE ratio of -9.02 and a beta of 1.68. The business's 50-day simple moving average is $2.29 and its 200-day simple moving average is $2.73.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings results on Thursday, March 12th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $33.28 million during the quarter, compared to analyst estimates of $32.24 million. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. As a group, equities research analysts anticipate that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after purchasing an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems during the 4th quarter valued at approximately $26,000. Intesa Sanpaolo S.p.A. purchased a new position in shares of Ballard Power Systems during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock valued at $38,000 after purchasing an additional 12,149 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Ballard Power Systems during the 3rd quarter valued at approximately $43,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.

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