Ballard Power Systems Inc. (BLDP) Sees Strong Trading Volume
Ballard Power Systems Inc. (NASDAQ:BLDP) shares saw an uptick in trading volume on Friday . 2,707,542 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 1,998,185 shares.The stock last traded at $2.18 and had previously closed at $2.16.
A number of brokerages recently weighed in on BLDP. FBR & Co reiterated an “outperform” rating and issued a $3.00 price target on shares of Ballard Power Systems in a research report on Friday. Zacks Investment Research downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, Roth Capital reiterated a “buy” rating and issued a $2.50 price target on shares of Ballard Power Systems in a research report on Sunday, August 14th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $2.26.
The company’s market cap is $331.15 million. The company has a 50 day moving average of $1.74 and a 200 day moving average of $1.47.
Ballard Power Systems (NASDAQ:BLDP) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $17.60 million for the quarter, compared to the consensus estimate of $18.32 million. Analysts anticipate that Ballard Power Systems Inc. will post ($0.15) earnings per share for the current fiscal year.
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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