Ballard Power Systems (NASDAQ:BLDP) Trading Up 9.7% - What's Next?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD rose 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 mid-day trading, a decline of 88% from the average daily volume of 6,740,981 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

BLDP has been the subject of a number of analyst reports. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. Roth Mkm dropped their price target on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a research report on Friday, March 14th. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. Susquehanna lowered their price objective on Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, UBS Group lowered their price objective on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of "Hold" and a consensus price target of $2.09.

Ballard Power Systems Stock Performance

The firm has a market capitalization of $584.71 million, a price-to-earnings ratio of -1.91 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 firm has a 50 day moving average price of $1.48 and a 200-day moving average price of $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 (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.05. The business had revenue of $14.76 million for the quarter, compared to analysts' expectations 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, sell-side analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently modified their holdings of BLDP. Raymond James Financial Inc. acquired a new stake in Ballard Power Systems in the fourth quarter valued at $27,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Ballard Power Systems in the first quarter valued at $40,000. Headlands Technologies LLC acquired a new stake in Ballard Power Systems in the fourth quarter valued at $52,000. Virtu Financial LLC acquired a new stake in Ballard Power Systems in the first quarter valued at $69,000. Finally, Amundi raised its stake in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after buying an additional 9,454 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.