Ballard Power Systems (NASDAQ:BLDP) Shares Pass 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 Monday . The stock has a 200-day moving average of $1.79 and traded as high as $3.66. Ballard Power Systems shares last traded at $3.49, with a volume of 7,734,293 shares.

Wall Street Analyst Weigh In

Several brokerages have commented on BLDP. Lake Street Capital lowered shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Monday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Roth Capital increased their price target on Ballard Power Systems from $1.25 to $1.80 and gave the company a "neutral" rating in a report on Monday, August 11th. HSBC set a $3.40 price objective on shares of Ballard Power Systems in a research report on Thursday. Finally, Susquehanna upped their target price on shares of Ballard Power Systems from $2.00 to $3.30 and gave the stock a "neutral" rating in a report on Monday. Ten research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $1.81.

Ballard Power Systems Price Performance

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 firm has a market capitalization of $1.05 billion, a P/E ratio of -3.53 and a beta of 1.80. The stock's 50 day simple moving average is $2.37 and its 200 day simple moving average is $1.79.

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 analysts' consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The firm had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. raised its holdings in shares of Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock worth $37,000 after purchasing an additional 13,094 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Ballard Power Systems during the first quarter valued at $40,000. Vanguard Personalized Indexing Management LLC increased its stake 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 purchasing an additional 5,482 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock worth $58,000 after purchasing an additional 19,170 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Ballard Power Systems during the first quarter worth about $69,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.