Ballard Power Systems (NASDAQ:BLDP) Trading Up 8.4% - Should You Buy?

Key Points

• Shares jumped 8.4% to $3.4350 on Tuesday on about 2.13 million shares traded, roughly 34% below the stock's average daily volume.
• Analyst sentiment remains cautious with an average rating of "Reduce" and a consensus price target of $2.69, despite recent upgrades from some firms moving ratings from "sell" to "hold."
• Ballard beat quarterly estimates with EPS of ($0.06) vs. ($0.07) expected and revenue of $33.28M, but the company still shows a very negative net margin (~91.5%) and negative ROE, with a market cap near $951M.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD was up 8.4% on Tuesday . The company traded as high as $3.39 and last traded at $3.4350. Approximately 2,129,469 shares were traded during trading, a decline of 34% from the average daily volume of 3,203,386 shares. The stock had previously closed at $3.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BLDP shares. TD Securities raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price target on the stock in a research report on Friday, January 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a research report on Friday, March 27th. Finally, TD Cowen raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $2.69.

Ballard Power Systems Stock Down 0.5%

The firm's 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 9.86. The stock has a market capitalization of $950.87 million, a P/E ratio of -10.58 and a beta of 1.68.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings results on Thursday, March 12th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. The firm had revenue of $33.28 million for the quarter, compared to analysts' expectations of $32.24 million. As a group, research analysts expect that Ballard Power Systems, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY bought a new stake in Ballard Power Systems during the 1st quarter worth about $70,000. J. Derek Lewis & Associates Inc. bought a new stake in Ballard Power Systems during the 4th quarter worth about $117,000. Hsbc Holdings PLC lifted its position in Ballard Power Systems by 24.4% during the 4th quarter. Hsbc Holdings PLC now owns 151,574 shares of the technology company's stock worth $385,000 after buying an additional 29,699 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position 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. Finally, Caitong International Asset Management Co. Ltd lifted its position 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. 28.02% of the stock is owned by institutional investors.

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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