Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up - Here's Why

Key Points

• Ballard Power (NASDAQ:BLDP) shares gapped up pre-market, opening at $2.1150 from $1.97 and last trading at $2.2350 — roughly a 11.4% rise on about 3.98 million shares traded.
• Analyst sentiment is muted: 11 analysts rate BLDP as Hold and 4 as Sell, giving an average consensus of "Reduce" with an average target price of $2.33.
• The company shows strong liquidity and low leverage (quick ratio 7.53, current ratio 8.33, debt/equity 0.03) but a negative P/E (−5.51), while several institutional investors have recently increased stakes and institutions own about 28% of the stock.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares gapped up before the market opened on Wednesday . The stock had previously closed at $1.97, but opened at $2.1150. Ballard Power Systems shares last traded at $2.2350, with a volume of 3,978,368 shares traded.

Wall Street Analyst Weigh In

BLDP has been the topic of several recent research reports. TD Securities raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price objective on the stock in a report on Friday, January 9th. Zacks Research lowered shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 12th. KeyCorp reissued a "sector weight" rating on shares of Ballard Power Systems in a research note on Friday, November 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a report on Wednesday, January 21st. Finally, Roth Mkm reiterated a "neutral" rating and issued a $3.00 target price on shares of Ballard Power Systems in a report on Friday, November 14th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Ballard Power Systems currently has an average rating of "Reduce" and an average target price of $2.33.

Ballard Power Systems Trading Up 11.4%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.53 and a current ratio of 8.33. The company's 50-day moving average price is $2.38 and its 200-day moving average price is $2.69. The firm has a market capitalization of $660.23 million, a PE ratio of -5.51 and a beta of 1.78.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of Ballard Power Systems by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company's stock valued at $36,486,000 after acquiring an additional 326,505 shares during the last quarter. Two Sigma Investments LP lifted its stake in Ballard Power Systems by 11.7% during the third quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company's stock worth $17,089,000 after purchasing an additional 657,107 shares during the last quarter. Invesco Ltd. boosted its holdings in Ballard Power Systems by 48.6% in the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company's stock valued at $12,621,000 after purchasing an additional 1,625,542 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock valued at $5,408,000 after purchasing an additional 829,012 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Ballard Power Systems by 204.5% in the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company's stock valued at $10,145,000 after purchasing an additional 2,682,355 shares during the last quarter. 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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