Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up - What's Next?

Key Points

• Shares gapped up from $2.90 to an open of $3.12 (last traded $2.9730) on volume of 840,354, but the MarketBeat consensus remains a "Reduce" rating with an average target of $2.69—below the recent price despite some analyst upgrades to Hold.
• Ballard slightly beat the quarter's estimates (EPS -$0.06 vs. -$0.07; revenue $33.28M vs. $32.24M) yet remains unprofitable with a negative net margin (91.5%) and forecasted full-year EPS of -0.54, while showing strong liquidity (quick ratio 9.14, current ratio 9.86) and very low leverage (debt/equity 0.03).

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD gapped up before the market opened on Friday . The stock had previously closed at $2.90, but opened at $3.12. Ballard Power Systems shares last traded at $2.9730, with a volume of 840,354 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on BLDP shares. TD Cowen raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a research note on Friday, January 9th. Wells Fargo & Company raised their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a report on Friday, March 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a report on Wednesday, January 21st. Finally, TD Securities upgraded shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 target price on the stock in a report on Friday, January 9th. Ten analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Ballard Power Systems has a consensus rating of "Reduce" and an average target price of $2.69.

Ballard Power Systems Price Performance

The company has a quick ratio of 9.14, a current ratio of 9.86 and a debt-to-equity ratio of 0.03. The stock has a market cap of $884.84 million, a P/E ratio of -9.78 and a beta of 1.68. The firm's fifty day moving average price is $2.35 and its 200-day moving average price is $2.74.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Thursday, March 12th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. The firm had revenue of $33.28 million for the quarter, compared to analysts' expectations of $32.24 million. Analysts forecast that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several large investors have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. bought a new stake in Ballard Power Systems in the fourth quarter valued at $117,000. Hsbc Holdings PLC boosted its holdings in Ballard Power Systems by 24.4% in the fourth quarter. Hsbc Holdings PLC now owns 151,574 shares of the technology company's stock valued at $385,000 after acquiring an additional 29,699 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after acquiring an additional 6,952 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Ballard Power Systems by 422.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock valued at $38,000 after acquiring an additional 12,149 shares in the last quarter. Finally, 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 acquiring an additional 1,625,542 shares in the last quarter. Institutional investors own 28.02% of the company's stock.

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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