Ballard Power Systems (NASDAQ:BLDP) Hits New 52-Week Low - What's Next?

Key Points

• Ballard Power Systems shares hit a new 52-week low at $1.92, below the 50-day and 200-day moving averages of $2.33 and $3.23, respectively.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a $3.39 target price, with 10 Holds, three Sells and two Buys.
• The company reported a quarterly loss of $0.07 per share and revenue of $20.34 million, missing analyst estimates for both earnings and revenue; profitability remained weak, with a negative net margin of 72.78%.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares hit a new 52-week low during trading on Thursday. The company traded as low as $1.92 and last traded at $1.9250, with a volume of 1616174 shares changing hands. The stock had previously closed at $2.00.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. HSBC raised Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 target price on the stock in a research report on Monday, August 3rd. UBS Group dropped their price target on Ballard Power Systems from $6.50 to $2.15 and set a "neutral" rating for the company in a report on Wednesday, September 30th. Susquehanna reduced their price target on Ballard Power Systems from $3.50 to $3.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ballard Power Systems in a report on Friday, July 17th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $3.39.

Ballard Power Systems Stock Performance

The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03. The company has a market cap of $676.27 million, a P/E ratio of -7.40 and a beta of 2.26. The company has a 50 day moving average price of $2.33 and a 200-day moving average price of $3.23.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%.The firm had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. On average, equities analysts expect that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its stake in shares of Ballard Power Systems by 56.8% during the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company's stock valued at $114,000 after acquiring an additional 10,850 shares during the last quarter. Headlands Technologies LLC increased its holdings in Ballard Power Systems by 31.6% in the second quarter. Headlands Technologies LLC now owns 190,618 shares of the technology company's stock valued at $742,000 after purchasing an additional 45,774 shares during the period. Benjamin Edwards Inc. raised its position in Ballard Power Systems by 22.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 132,904 shares of the technology company's stock worth $517,000 after purchasing an additional 24,114 shares during the last quarter. Hsbc Holdings PLC raised its position in Ballard Power Systems by 323.8% during the 2nd quarter. Hsbc Holdings PLC now owns 254,913 shares of the technology company's stock worth $992,000 after purchasing an additional 194,768 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Ballard Power Systems during the 2nd quarter worth about $2,070,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.

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