Ballard Power Systems (NASDAQ:BLDP) Trading Down 6% - Here's What Happened

Key Points

• Ballard Power Systems' stock fell 6% to $2.76, with a trading volume decline of 79% compared to its average.
• Several analysts recently adjusted their price targets for Ballard Power Systems, with an average consensus price target of $1.51 and a predominant rating of "Hold."
• The company posted an EPS of ($0.08) for the last quarter, outperforming expectations, while analysts forecast a projected EPS of -0.54 for the current fiscal year.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD was down 6% during mid-day trading on Friday . The stock traded as low as $2.80 and last traded at $2.76. Approximately 1,772,690 shares were traded during trading, a decline of 79% from the average daily volume of 8,266,876 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

Several research analysts recently issued reports on BLDP shares. Wells Fargo & Company increased their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. BMO Capital Markets increased their target price on shares of Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research note on Tuesday, August 12th. Roth Capital increased their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Susquehanna upped their price objective on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Lake Street Capital lowered shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Ballard Power Systems currently has an average rating of "Reduce" and a consensus price target of $1.51.

Ballard Power Systems Price Performance

The stock has a market capitalization of $831.10 million, a P/E ratio of -2.79 and a beta of 1.73. The business's 50 day simple moving average is $2.06 and its two-hundred day simple moving average is $1.62. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $17.98 million during the quarter, compared to the consensus estimate of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. As a group, sell-side analysts forecast that Ballard Power Systems, Inc. will post -0.54 earnings per share 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 company. SBI Securities Co. Ltd. raised its holdings in shares of Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock valued at $37,000 after purchasing an additional 13,094 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after purchasing an additional 5,482 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Ballard Power Systems in the first quarter valued at about $40,000. Daiwa Securities Group Inc. raised its holdings in shares of Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock valued at $58,000 after purchasing an additional 19,170 shares during the last quarter. Finally, Ardsley Advisory Partners LP purchased a new stake in shares of Ballard Power Systems in the second quarter valued at about $80,000. 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.

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