Ballard Power Systems (NASDAQ:BLDP) Stock Price Down 8.6% - Should You Sell?

Key Points

• Ballard shares fell 8.6% to about $4.30 in mid-day trading, with volume ~1.89M shares (roughly 50% below the average session volume).
• Analysts hold a consensus rating of “Reduce” with an average target of $3.51 (breakdown: 1 Buy, 11 Hold, 3 Sell), though several firms recently bumped price targets modestly.
• Quarterly results showed EPS of -$0.04 (beat -$0.06 est.) but revenue of $18.98M missed expectations; the company remains unprofitable (negative net margin ~78.6%) and analysts forecast ~-0.21 EPS for the year.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD traded down 8.6% during mid-day trading on Friday . The stock traded as low as $4.37 and last traded at $4.2960. 1,894,412 shares changed hands during trading, a decline of 50% from the average session volume of 3,777,344 shares. The stock had previously closed at $4.70.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Securities raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price objective for the company in a research note on Friday, January 9th. Raymond James Financial increased their price target on shares of Ballard Power Systems from $2.40 to $4.00 and gave the company a "market perform" rating in a research note on Wednesday. ATB Cormark Capital Markets increased their price target on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a "sector perform" rating in a research note on Wednesday. Lake Street Capital raised shares of Ballard Power Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $3.00 to $5.00 in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an "underweight" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $3.51.

Ballard Power Systems Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 10.70. The stock has a market cap of $1.29 billion, a PE ratio of -15.77 and a beta of 1.94. The stock's 50-day moving average is $2.72 and its two-hundred day moving average is $2.74.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million during the quarter, compared to analysts' expectations of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. On average, equities analysts predict that Ballard Power Systems, Inc. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its holdings in Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after buying an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in Ballard Power Systems during the 4th quarter worth approximately $26,000. Ground Swell Capital LLC acquired a new stake in Ballard Power Systems during the 1st quarter worth approximately $26,000. Intesa Sanpaolo S.p.A. acquired a new stake in Ballard Power Systems during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock worth $38,000 after buying an additional 12,149 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company's stock.

About Ballard Power Systems

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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