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

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

Analyst Ratings Changes

A number of brokerages recently issued reports on BLDP. Citigroup reiterated a "sell" rating and set a $1.00 price objective (down from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. BMO Capital Markets cut their price objective on Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating for the company in a research note on Friday, March 14th. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. UBS Group cut their price objective 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. Finally, Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Seven equities research 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's stock. According to MarketBeat.com, Ballard Power Systems currently has an average rating of "Hold" and a consensus target price of $2.09.

Ballard Power Systems Stock Performance

The stock has a 50-day simple moving average of $1.50 and a 200 day simple moving average of $1.41. 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 company has a market capitalization of $560.72 million, a PE ratio of -1.83 and a beta of 1.71.

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

Institutional Trading of Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. lifted its position in Ballard Power Systems by 2.1% during the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock worth $437,000 after buying an additional 8,265 shares during the period. National Bank of Canada FI lifted its position in Ballard Power Systems by 14.7% during the fourth quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock worth $120,000 after buying an additional 9,287 shares during the period. Amundi lifted its position in Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after buying an additional 9,454 shares during the period. Mackenzie Financial Corp lifted its position in Ballard Power Systems by 8.5% during the first quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company's stock worth $136,000 after buying an additional 9,626 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in Ballard Power Systems by 44.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after acquiring an additional 15,160 shares during the last quarter. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

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.