Ballard Power Systems (NASDAQ:BLDP) Reaches New 52-Week Low at $2.64

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD hit a new 52-week low during trading on Friday . The company traded as low as $2.64 and last traded at $2.70, with a volume of 209927 shares traded. The stock had previously closed at $2.69.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BLDP shares. Citigroup lowered their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, February 27th. Jefferies Financial Group lowered their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a "hold" rating for the company in a research note on Tuesday, January 30th. TD Securities decreased their price objective on shares of Ballard Power Systems from $3.75 to $3.00 and set a "hold" rating for the company in a research note on Tuesday, March 12th. Piper Sandler cut their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an "underweight" rating for the company in a report on Wednesday, March 13th. Finally, Raymond James cut their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a "market perform" rating for the company in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.97.

Ballard Power Systems Stock Performance

The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $3.01 and its two-hundred day moving average price is $3.33. The firm has a market capitalization of $787.13 million, a PE ratio of -4.46 and a beta of 1.66.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its earnings results on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $46.80 million during the quarter, compared to analysts' expectations of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The firm's revenue was up 131.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, equities analysts expect that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter worth about $31,000. FNY Investment Advisers LLC grew its position in shares of Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company's stock valued at $37,000 after buying an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Ballard Power Systems during the 3rd quarter valued at about $48,000. Exchange Traded Concepts LLC bought a new stake in shares of Ballard Power Systems during the 3rd quarter valued at about $48,000. Finally, Deutsche Bank AG grew its position in shares of Ballard Power Systems by 95.3% during the 3rd quarter. Deutsche Bank AG now owns 13,059 shares of the technology company's stock valued at $48,000 after buying an additional 6,373 shares during 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.