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

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD 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.

Several other equities research analysts also recently issued reports on the stock. Citigroup reaffirmed 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. National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. UBS Group dropped their price target on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Ballard Power Systems presently has a consensus rating of "Hold" and a consensus price target of $2.14.

Institutional Trading of Ballard Power Systems

Large investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in Ballard Power Systems by 2.1% during the 1st quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock valued at $437,000 after purchasing an additional 8,265 shares during the last quarter. National Bank of Canada FI raised its stake in Ballard Power Systems by 14.7% during the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock valued at $120,000 after purchasing an additional 9,287 shares during the last quarter. Amundi raised its stake in Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after purchasing an additional 9,454 shares during the last quarter. Mackenzie Financial Corp raised its stake in Ballard Power Systems by 8.5% during the 1st 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. raised its stake in Ballard Power Systems by 44.1% during the 4th 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. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Trading Up 0.8%

The stock has a market capitalization of $586.21 million, a price-to-earnings ratio of -1.93 and a beta of 1.71. The company's 50 day moving average is $1.56 and its 200 day moving average is $1.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. The company had revenue of $14.76 million during the quarter, compared to analysts' expectations of $16.82 million. On average, research analysts forecast 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.

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