Ballard Power Systems (NASDAQ:BLDP) Trading Down 7% – Time to Sell?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) were down 7% on Monday . The stock traded as low as $4.01 and last traded at $4.1380. Approximately 2,506,992 shares changed hands during trading, a decline of 44% from the average daily volume of 4,501,963 shares. The stock had previously closed at $4.45.

Analyst Ratings Changes

Several research analysts have recently weighed in on BLDP shares. Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. TD Cowen upped their price objective on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Monday, April 20th. Wells Fargo & Company upped their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Finally, Raymond James Financial increased their price target on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $3.51.

Ballard Power Systems Stock Down 7.9%

The firm has a 50-day moving average of $2.96 and a 200 day moving average of $2.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -15.11 and a beta of 1.94.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The firm had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. As a group, sell-side analysts forecast that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares during the period. Amundi boosted its stake in shares of Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after acquiring an additional 9,454 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Ballard Power Systems by 27.7% during the 4th quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock worth $118,000 after acquiring an additional 10,000 shares during the period. Swiss Life Asset Management Ltd bought a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $26,000. Finally, Ground Swell Capital LLC bought a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $26,000. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.