Ballard Power Systems (NASDAQ:BLDP) Shares Gap Down - Should You Sell?

Key Points

• Ballard Power Systems' shares fell from a closing price of $3.33 to an opening price of $3.15, with a last trading value of $3.26 on high volume.
• Multiple analysts have changed their ratings on the stock, with price targets ranging from $1.00 to $3.50 and a general consensus leaning towards "neutral."
• The company reported a negative EPS of ($0.08), slightly better than analysts' expectations, while also showing a significant negative net margin and return on equity.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's share price gapped down before the market opened on Wednesday . The stock had previously closed at $3.33, but opened at $3.15. Ballard Power Systems shares last traded at $3.26, with a volume of 1,973,523 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna lifted their price target on Ballard Power Systems from $2.00 to $3.30 and gave the stock a "neutral" rating in a research report on Monday, October 13th. UBS Group set a $3.50 price target on shares of Ballard Power Systems and gave the company a "neutral" rating in a research note on Wednesday. Roth Capital upped their price target on Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a research report on Monday, August 11th. BMO Capital Markets upped their price target on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of "Reduce" and an average price target of $2.00.

Ballard Power Systems Trading Down 3.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.32 and a current ratio of 9.31. The company's 50-day moving average price is $2.60 and its 200 day moving average price is $1.89. The stock has a market cap of $961.86 million, a PE ratio of -3.23 and a beta of 1.80.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The business had revenue of $17.98 million during the quarter, compared to analysts' expectations of $17.94 million. On average, sell-side 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

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in Ballard Power Systems by 104.2% in the 2nd quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company's stock valued at $20,977,000 after buying an additional 6,701,756 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Ballard Power Systems by 117.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company's stock valued at $4,327,000 after buying an additional 1,467,547 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake 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 worth $5,408,000 after purchasing an additional 829,012 shares during the period. Jane Street Group LLC lifted its stake 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 worth $1,635,000 after purchasing an additional 534,834 shares during the period. Finally, Graham Capital Management L.P. lifted its stake in shares of Ballard Power Systems by 127.1% during the 1st quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company's stock worth $814,000 after purchasing an additional 414,068 shares during the period. 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.

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