Ballard Power Systems (NASDAQ:BLDP) Stock Price Up 5.7%

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD's share price was up 5.7% during trading on Tuesday . The stock traded as high as $3.35 and last traded at $3.32. Approximately 893,634 shares changed hands during trading, a decline of 71% from the average daily volume of 3,074,349 shares. The stock had previously closed at $3.14.

Wall Street Analysts Forecast Growth

BLDP has been the topic of several recent research reports. Piper Sandler reduced their price target on 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. Raymond James decreased their target price on Ballard Power Systems from $4.50 to $4.00 and set a "market perform" rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group cut their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a "hold" rating on the stock in a research report on Tuesday, January 30th. TD Securities lowered their target price on Ballard Power Systems from $3.75 to $3.00 and set a "hold" rating for the company in a report on Tuesday, March 12th. Finally, Citigroup decreased their price target 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $3.97.

Ballard Power Systems Trading Up 3.8 %

The company has a market cap of $974.65 million, a P/E ratio of -5.59 and a beta of 1.66. The business's 50-day moving average price is $3.06 and its 200 day moving average price is $3.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (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 analyst estimates of $26.32 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The company's revenue for the quarter was up 131.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share. As a group, analysts expect that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Ballard Power Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,218,835 shares of the technology company's stock valued at $34,110,000 after buying an additional 97,362 shares during the last quarter. Legal & General Group Plc grew its position in shares of Ballard Power Systems by 2.8% in the fourth quarter. Legal & General Group Plc now owns 5,970,284 shares of the technology company's stock valued at $22,231,000 after purchasing an additional 162,845 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ballard Power Systems by 27.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company's stock valued at $14,353,000 after purchasing an additional 849,311 shares during the last quarter. Norges Bank bought a new position in shares of Ballard Power Systems during the fourth quarter worth approximately $17,983,000. Finally, Morgan Stanley lifted its holdings in Ballard Power Systems by 20.9% during the 4th quarter. Morgan Stanley now owns 3,688,259 shares of the technology company's stock worth $17,667,000 after purchasing an additional 638,824 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.