Ballard Power Systems (NASDAQ:BLDP) Stock Price Up 5.9% - Should You Buy?

Key Points

• Ballard Power Systems shares rose 5.9% on Wednesday, trading as high as $3.17 before closing near $3.14 on lighter-than-normal volume.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average target price of $3.52, even after several firms raised their price targets.
• The company reported a smaller-than-expected quarterly loss of ($0.04) EPS, but revenue came in slightly below estimates and Ballard continues to post weak profitability metrics.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD were up 5.9% during trading on Wednesday . The stock traded as high as $3.17 and last traded at $3.1350. 4,869,130 shares traded hands during trading, a decline of 17% from the average session volume of 5,838,225 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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 report on Wednesday, May 6th. National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a "sector perform" rating in a report on Wednesday, June 24th. BMO Capital Markets upped their target price on Ballard Power Systems from $1.70 to $2.10 and gave the company an "underperform" rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a report on Friday. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $3.52.

Ballard Power Systems Stock Up 6.3%

The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The firm's 50 day simple moving average is $4.30 and its two-hundred day simple moving average is $3.23. The firm has a market cap of $948.15 million, a price-to-earnings ratio of -11.65 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The firm had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. On average, equities analysts forecast that Ballard Power Systems, Inc. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently added to or reduced their stakes in BLDP. JPMorgan Chase & Co. lifted its position in shares of Ballard Power Systems by 45.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 692,201 shares of the technology company's stock valued at $1,883,000 after acquiring an additional 215,954 shares during the period. Leonteq Securities AG bought a new position in shares of Ballard Power Systems in the fourth quarter worth $319,000. GSA Capital Partners LLP raised its stake in Ballard Power Systems by 108.5% in the fourth quarter. GSA Capital Partners LLP now owns 709,304 shares of the technology company's stock valued at $1,802,000 after purchasing an additional 369,137 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Ballard Power Systems in the first quarter valued at about $548,000. Finally, BNP Paribas Financial Markets lifted its position in Ballard Power Systems by 204.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company's stock worth $10,145,000 after purchasing an additional 2,682,355 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 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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