Ballard Power Systems (NASDAQ:BLDP) Stock Passes Above 200 Day Moving Average - Should You Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.42 and traded as high as $2.04. Ballard Power Systems shares last traded at $1.86, with a volume of 6,405,824 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup reiterated a "sell" rating and issued a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. UBS Group lowered their target price on 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. Susquehanna raised their target price on Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded 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 issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.14.

Ballard Power Systems Stock Down 2.2%

The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $536.76 million, a P/E ratio of -1.75 and a beta of 1.71. The company has a fifty day moving average of $1.68 and a 200 day moving average of $1.43.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. On average, research analysts anticipate that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Ballard Power Systems by 20.3% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ballard Power Systems by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company's stock valued at $4,499,000 after acquiring an additional 285,317 shares in the last quarter. Invesco Ltd. lifted its position in shares of Ballard Power Systems by 3.6% in the first quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company's stock valued at $4,102,000 after acquiring an additional 130,772 shares in the last quarter. Millennium Management LLC lifted its position in shares of Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock valued at $4,404,000 after acquiring an additional 1,177,718 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after acquiring an additional 661,413 shares in the last quarter. 28.02% of the stock is currently owned by hedge funds and other 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.