Ballard Power Systems (NASDAQ:BLDP) Trading Up 5.7% - Should You Buy?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD traded up 5.7% during mid-day trading on Thursday . The company traded as high as $1.76 and last traded at $1.77. 1,881,710 shares were traded during trading, a decline of 72% from the average session volume of 6,659,262 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup reissued a "sell" rating and set a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Roth Mkm decreased their price target on shares of Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a research note on Friday, March 14th. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a research note on Thursday, March 13th. Raymond James Financial dropped their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a research report on Friday, March 14th. Finally, Susquehanna dropped their price target on shares of Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Ballard Power Systems currently has an average rating of "Hold" and a consensus price target of $2.09.

Ballard Power Systems Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00. The stock has a market cap of $523.84 million, a PE ratio of -1.71 and a beta of 1.71. The company's 50 day simple moving average is $1.43 and its 200 day simple moving average is $1.40.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The firm had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. Analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Ballard Power Systems in the 4th quarter valued at about $27,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Ballard Power Systems in the 1st quarter valued at about $40,000. Headlands Technologies LLC purchased a new stake in Ballard Power Systems in the 4th quarter valued at about $52,000. Virtu Financial LLC purchased a new stake in Ballard Power Systems in the 1st quarter valued at about $69,000. Finally, Amundi increased its stake in shares of Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after purchasing an additional 9,454 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company's stock.

About Ballard Power Systems

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.