Ballard Power Systems (NASDAQ:BLDP) Trading Up 8.5% - Time to Buy?

Key Points

• Ballard Power Systems saw an 8.5% increase in share price, reaching up to $1.99, although the trading volume was significantly lower than average.
• Wall Street analysts show mixed sentiments, with ratings ranging from "underweight" to "sell," and a consensus target price of $1.51.
• The company recently reported a quarterly EPS of (-$0.08), exceeding analysts' estimates, but continues to face challenges with a negative net margin of 409.35%.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's share price was up 8.5% during trading on Friday . The company traded as high as $1.97 and last traded at $1.99. Approximately 3,206,063 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 8,775,022 shares. The stock had previously closed at $1.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BLDP shares. Wells Fargo & Company raised their price target on Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a report on Wednesday. Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. Roth Capital reiterated a "neutral" rating and issued a $1.80 price objective (up previously from $1.25) on shares of Ballard Power Systems in a research report on Monday. Finally, Citigroup reiterated a "sell" rating and issued a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $1.51.

Ballard Power Systems Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.31. The firm has a market cap of $613.23 million, a P/E ratio of -2.07 and a beta of 1.76. The firm's fifty day simple moving average is $1.76 and its 200 day simple moving average is $1.45.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. lifted its holdings in Ballard Power Systems by 125.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock worth $37,000 after buying an additional 13,094 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Ballard Power Systems during the 1st quarter worth approximately $40,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Ballard Power Systems by 21.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock worth $48,000 after buying an additional 5,482 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings 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 purchasing an additional 19,170 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

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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