Ballard Power Systems (NASDAQ:BLDP) Trading Up 9% - Here's Why

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares traded up 9% during mid-day trading on Thursday . The company traded as high as $2.28 and last traded at $2.20. 9,729,172 shares traded hands during trading, an increase of 6% from the average session volume of 9,182,104 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

BLDP has been the subject of several analyst reports. UBS Group cut their price target on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a report on Monday, May 12th. Citigroup reiterated a "sell" rating and issued a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Wall Street Zen upgraded shares of Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. Finally, Susquehanna lifted their target price on Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research report on Monday. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Ballard Power Systems has an average rating of "Hold" and a consensus price target of $2.14.

Ballard Power Systems Price Performance

The firm has a market cap of $629.69 million, a PE ratio of -2.06 and a beta of 1.71. The firm's fifty day simple moving average is $1.60 and its two-hundred day simple moving average is $1.42. The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BLDP. Two Sigma Investments LP increased its holdings in Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock worth $2,977,000 after acquiring an additional 661,413 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ballard Power Systems by 39.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company's stock valued at $440,000 after purchasing an additional 108,364 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ballard Power Systems by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company's stock worth $1,695,000 after acquiring an additional 425,374 shares during the last quarter. Millennium Management LLC boosted its position in shares of Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock worth $4,404,000 after purchasing an additional 1,177,718 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Ballard Power Systems in the fourth quarter valued at $150,000. Hedge funds and other institutional investors 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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