Ballard Power Systems (NASDAQ:BLDP) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

BLDP has been the subject of several research analyst reports. Susquehanna upped 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 report on Monday, July 21st. Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. UBS Group reduced their price target on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a report on Monday, May 12th. Finally, Citigroup reaffirmed a "sell" rating and set a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $2.14.

Ballard Power Systems Trading Down 1.6%

The firm has a market capitalization of $548.76 million, a price-to-earnings ratio of -1.79 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00. The company has a 50-day moving average price of $1.65 and a 200-day moving average price of $1.42.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLDP. TD Asset Management Inc increased its position in shares of Ballard Power Systems by 12.8% during the second quarter. TD Asset Management Inc now owns 331,557 shares of the technology company's stock worth $530,000 after acquiring an additional 37,557 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock worth $48,000 after buying an additional 5,482 shares during the period. Goldman Sachs Group Inc. lifted its position 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 worth $5,408,000 after purchasing an additional 829,012 shares during the period. Jane Street Group LLC increased its holdings in shares of Ballard Power Systems by 56.2% in the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock valued at $1,635,000 after buying an additional 534,834 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 buying an additional 285,317 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

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.