Ballard Power Systems (NASDAQ:BLDP) Trading Up 8.1% on Analyst Upgrade

Key Points

• Ballard Power Systems' stock price surged 8.1% after an analyst upgrade from Susquehanna, raising their price target from $2.00 to $3.30 while maintaining a neutral rating.
• Despite the positive analyst upgrade, the stock had a decline in trading volume, dropping 58% from the average session volume.
• The consensus rating for Ballard Power Systems is currently "Reduce" with an average price target of $1.81 among research analysts.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's stock price traded up 8.1% during trading on Tuesday after Susquehanna raised their price target on the stock from $2.00 to $3.30. Susquehanna currently has a neutral rating on the stock. Ballard Power Systems traded as high as $3.63 and last traded at $3.77. 3,565,459 shares were traded during trading, a decline of 58% from the average session volume of 8,405,122 shares. The stock had previously closed at $3.49.

Other research analysts have also issued research reports about the company. Lake Street Capital lowered Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, October 8th. BMO Capital Markets boosted their target price on Ballard Power Systems from $1.00 to $1.10 and gave the company an "underperform" rating in a research report on Tuesday, August 12th. Wells Fargo & Company boosted their target price on Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Finally, HSBC set a $3.40 target price on Ballard Power Systems in a research report on Thursday. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $1.81.

Hedge Funds Weigh In On Ballard Power Systems

A number of large investors have recently made changes to their positions in BLDP. SBI Securities Co. Ltd. increased its position in shares of Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock worth $37,000 after purchasing an additional 13,094 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Ballard Power Systems during the first quarter worth $40,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after acquiring an additional 5,482 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Ballard Power Systems by 108.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock valued at $58,000 after acquiring an additional 19,170 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at $69,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Stock Performance

The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $2.37 and a 200-day moving average of $1.79. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.91 and a beta of 1.80.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The firm had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, sell-side analysts predict that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

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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