Ballard Power Systems Inc. (BLDP) Sees Large Volume Increase
Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) saw unusually-strong trading volume on Friday . Approximately 2,707,542 shares changed hands 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 equities analysts recently issued reports on BLDP shares. Roth Capital reiterated a “buy” rating and issued a $2.00 price target on shares of Ballard Power Systems in a research note on Thursday, June 30th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Monday, August 1st. Finally, FBR & Co reiterated a “hold” rating on shares of Ballard Power Systems in a research note on Thursday, April 28th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Ballard Power Systems presently has an average rating of “Buy” and a consensus price target of $2.16.
The company’s market cap is $331.15 million. The stock’s 50-day moving average is $1.75 and its 200-day moving average is $1.47.
Ballard Power Systems (NASDAQ:BLDP) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The business earned $17.60 million during the quarter, compared to analysts’ expectations of $18.32 million. On average, equities analysts forecast 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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