Ballard Power Systems (NASDAQ:BLDP) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Ballard Power Systems stock crossed above its 200-day moving average, trading at $3.53, significantly above the average price of $1.69.
• Recent analyst ratings show a mix of sentiment, with upgrades from BMO Capital and Susquehanna, but a majority holding a "Sell" or "Underperform" rating, resulting in an average price target of $1.51.
• The company reported a revenue of $17.98 million in its latest earnings, slightly beating expectations, though it continues to face challenges with a negative net margin of 409.35% and a projected EPS of -0.54 for the current year.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.69 and traded as high as $3.60. Ballard Power Systems shares last traded at $3.53, with a volume of 19,203,785 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLDP. BMO Capital Markets raised their price objective on shares of Ballard Power Systems from $1.00 to $1.10 and gave the company an "underperform" rating in a research note on Tuesday, August 12th. Susquehanna raised their target price on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ballard Power Systems in a report on Saturday, September 27th. Roth Capital raised their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a "neutral" rating in a report on Monday, August 11th. Finally, Lake Street Capital cut shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Monday, August 11th. Ten research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $1.51.

Ballard Power Systems Trading Up 23.0%

The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $2.17 and its two-hundred day simple moving average is $1.69. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -3.57 and a beta of 1.80.

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 for the quarter, topping 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 company had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million. On average, equities analysts predict that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in shares of Ballard Power Systems by 104.2% in the 2nd quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company's stock valued at $20,977,000 after acquiring an additional 6,701,756 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Ballard Power Systems by 20.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock valued at $5,408,000 after acquiring an additional 829,012 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ballard Power Systems by 7.5% in the 1st 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 acquiring an additional 285,317 shares during the period. Invesco Ltd. increased its holdings in shares of Ballard Power Systems by 3.6% in the 1st quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company's stock valued at $4,102,000 after acquiring an additional 130,772 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Ballard Power Systems by 117.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company's stock valued at $4,327,000 after acquiring an additional 1,467,547 shares during the period. Institutional investors and hedge funds 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.

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