Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up - Time to Buy?

Key Points

• Ballard Power Systems' stock gapped up before the market opened, rising from a previous close of $3.53 to an opening price of $3.85, before trading at $3.48 with significant volume.
• Multiple analysts have revised their ratings and price targets for the company, with Susquehanna increasing its target from $1.30 to $2.00 and Weiss Ratings maintaining a "sell" rating, highlighting mixed sentiment among investment analysts.
• The company reported a quarterly EPS of ($0.08), beating estimates, but continues to face profitability challenges with a negative return on equity of 21.52% and a forecasted EPS of ($0.54) for the current year.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's stock price gapped up before the market opened on Monday . The stock had previously closed at $3.53, but opened at $3.85. Ballard Power Systems shares last traded at $3.48, with a volume of 6,261,395 shares traded.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of research reports. Susquehanna raised their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Lake Street Capital lowered Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Roth Capital upped their price objective 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Saturday, September 27th. Finally, Wells Fargo & Company increased their price objective on Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Ten investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $1.51.

Ballard Power Systems Stock Up 5.0%

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 stock has a market cap of $1.11 billion, a price-to-earnings ratio of -3.76 and a beta of 1.80. The business's 50 day moving average is $2.17 and its 200 day moving average is $1.69.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $17.98 million during the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. Equities analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. boosted its holdings in shares of Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock valued at $37,000 after buying an additional 13,094 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Ballard Power Systems during the first quarter valued at approximately $40,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after buying an additional 5,482 shares during the period. Daiwa Securities Group Inc. grew its holdings in Ballard Power Systems by 108.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock worth $58,000 after acquiring an additional 19,170 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Ballard Power Systems in the first quarter worth $69,000. 28.02% of the stock is owned by institutional investors.

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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