Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up to $3.01

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.01, but opened at $3.22. Ballard Power Systems shares last traded at $3.27, with a volume of 987,604 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLDP. Piper Sandler decreased their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an "underweight" rating on the stock in a research report on Wednesday, March 13th. CIBC cut their price target on shares of Ballard Power Systems from $3.75 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, May 8th. TD Securities raised their price target on shares of Ballard Power Systems from $2.50 to $2.75 and gave the company a "hold" rating in a report on Wednesday, May 8th. Wells Fargo & Company cut their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set an "underweight" rating on the stock in a report on Thursday, May 9th. Finally, Citigroup cut their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.74.

Ballard Power Systems Trading Up 6.3 %

The stock has a market cap of $957.73 million, a price-to-earnings ratio of -5.27 and a beta of 1.65. The business's fifty day simple moving average is $2.88 and its 200 day simple moving average is $3.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.66 and a quick ratio of 10.88.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $14.50 million during the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS. On average, research analysts predict that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of BLDP. Van ECK Associates Corp boosted its holdings in shares of Ballard Power Systems by 19.8% during the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company's stock valued at $5,936,000 after acquiring an additional 353,098 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Ballard Power Systems by 18.2% during the fourth quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company's stock valued at $7,732,000 after acquiring an additional 321,624 shares during the period. Jump Financial LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter valued at $1,086,000. Rafferty Asset Management LLC boosted its holdings in shares of Ballard Power Systems by 49.5% during the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company's stock valued at $2,642,000 after acquiring an additional 236,449 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Ballard Power Systems by 1.7% during the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company's stock valued at $33,476,000 after acquiring an additional 148,321 shares during the period. 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.