Ballard Power Systems (NASDAQ:BLDP) Sets New 12-Month Low - What's Next?

Key Points

• Ballard Power Systems shares hit a new 52-week low of $1.4350, trading well below their 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the stock has two Buy, ten Hold and three Sell ratings, with an average rating of “Reduce” and a consensus price target of $3.25.
• The company missed quarterly expectations, reporting a loss of $0.07 per share versus the projected $0.04 loss and revenue of $20.34 million versus $25.24 million expected; Ballard continues to have deeply negative margins.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD reached a new 52-week low on Monday. The company traded as low as $1.4350 and last traded at $1.4450, with a volume of 276,116 shares traded. The stock had previously closed at $1.47.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a research report on Saturday, October 17th. HSBC raised Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 price objective on the stock in a report on Monday, August 3rd. BMO Capital Markets reaffirmed an "underperform" rating and issued a $1.50 price objective on shares of Ballard Power Systems in a research note on Monday. Zacks Research lowered shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 20th. Finally, UBS Group lowered their price target on shares of Ballard Power Systems from $6.50 to $2.15 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $3.25.

Ballard Power Systems Trading Down 0.3%

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 stock has a market capitalization of $514.67 million, a price-to-earnings ratio of -5.60 and a beta of 2.26. The business has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $3.16.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released 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). The company had revenue of $20.34 million during the quarter, compared to analysts' expectations of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. On average, equities analysts predict that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in shares of Ballard Power Systems during the 2nd quarter valued at $28,144,000. Man Group plc bought a new position in Ballard Power Systems during the second quarter valued at approximately $4,629,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ballard Power Systems during the 2nd quarter worth $3,392,000. Bank of America Corp DE bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at $3,231,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Ballard Power Systems in the 1st quarter valued at $1,362,000. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.