Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up on Analyst Upgrade

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's share price gapped up before the market opened on Tuesday after Susquehanna raised their price target on the stock from $1.30 to $2.00. The stock had previously closed at $1.94, but opened at $2.02. Susquehanna currently has a neutral rating on the stock. Ballard Power Systems shares last traded at $1.97, with a volume of 845,099 shares traded.

A number of other analysts have also commented on the stock. Citigroup restated a "sell" rating and set a $1.00 price target (down previously from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. UBS Group decreased their price target on shares of 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. National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. Finally, Wall Street Zen upgraded shares of Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Ballard Power Systems currently has an average rating of "Hold" and a consensus target price of $2.14.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Ballard Power Systems in the 4th quarter worth about $27,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Ballard Power Systems in the 1st quarter worth about $40,000. Vanguard Personalized Indexing Management LLC boosted 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 worth $48,000 after buying an additional 5,482 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Ballard Power Systems during the fourth quarter valued at about $52,000. Finally, Virtu Financial LLC purchased a new stake in Ballard Power Systems during the first quarter valued at about $69,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Performance

The firm has a market capitalization of $625.19 million, a PE ratio of -2.05 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.00 and a quick ratio of 8.13. The company's fifty day simple moving average is $1.61 and its 200 day simple moving average is $1.42.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. As a group, equities research analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

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.