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

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD gapped down before the market opened on Friday . The stock had previously closed at $1.94, but opened at $1.88. Ballard Power Systems shares last traded at $1.92, with a volume of 465,426 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. UBS Group dropped their price objective on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a research note on Monday, May 12th. Wall Street Zen raised Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. Susquehanna dropped their target price on shares of Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Citigroup reissued a "sell" rating and set a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of "Hold" and an average target price of $2.09.

Ballard Power Systems Stock Performance

The stock has a market cap of $557.72 million, a price-to-earnings ratio of -1.82 and a beta of 1.71. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $1.41.

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

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. boosted its stake in Ballard Power Systems by 2.1% in the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock valued at $437,000 after acquiring an additional 8,265 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Ballard Power Systems by 14.7% in the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock worth $120,000 after purchasing an additional 9,287 shares during the last quarter. Amundi grew its stake in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after purchasing an additional 9,454 shares during the period. Mackenzie Financial Corp increased its holdings in Ballard Power Systems by 8.5% in the first quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company's stock valued at $136,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in Ballard Power Systems by 44.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock valued at $82,000 after purchasing an additional 15,160 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

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.