Ballard Power Systems (NASDAQ:BLDP) Stock Price Up 9.7% - Here's What Happened

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares were up 9.7% during mid-day trading on Wednesday . The company traded as high as $1.82 and last traded at $1.87. Approximately 819,611 shares traded hands during trading, a decline of 88% from the average daily volume of 6,740,981 shares. The stock had previously closed at $1.70.

Analyst Ratings Changes

A number of research analysts have recently commented on BLDP shares. Susquehanna cut their price target on shares of Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a research note on Thursday, March 13th. Roth Mkm reduced their target price on shares of Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating on the stock in a research report on Friday, March 14th. HSBC lowered their price target on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a report on Friday, March 14th. Finally, Raymond James Financial reduced their price objective on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a report on Friday, March 14th. Seven 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 data from MarketBeat, Ballard Power Systems has a consensus rating of "Hold" and an average target price of $2.09.

Ballard Power Systems Price Performance

The company has a market cap of $560.72 million, a PE ratio of -1.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.00 and a quick ratio of 8.13. The stock's 50-day moving average is $1.50 and its 200 day moving average is $1.41.

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

Institutional Trading of Ballard Power Systems

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Ballard Power Systems in the fourth quarter valued at $27,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Ballard Power Systems during the 1st quarter valued at about $40,000. Headlands Technologies LLC acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $52,000. Virtu Financial LLC purchased a new position in shares of Ballard Power Systems in the 1st quarter valued at about $69,000. Finally, Amundi raised its holdings in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after purchasing an additional 9,454 shares during the period. Hedge funds and other institutional investors own 28.02% of the company's stock.

Ballard Power Systems Company Profile

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.