Ballard Power Systems (NASDAQ:BLDP) Shares Down 5.5% – Time to Sell?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) traded down 5.5% during mid-day trading on Thursday . The company traded as low as $4.01 and last traded at $4.14. 5,276,073 shares were traded during mid-day trading, a decline of 7% from the average session volume of 5,644,131 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research note on Wednesday, May 6th. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. ATB Cormark Capital Markets boosted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial boosted their price objective on shares of 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 equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Ballard Power Systems has an average rating of “Reduce” and an average target price of $3.59.

Ballard Power Systems Stock Down 7.1%

The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -15.08 and a beta of 2.19. The firm’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $3.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (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 business had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. On average, equities analysts forecast that Ballard Power Systems, Inc. will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. increased its stake in Ballard Power Systems by 10.9% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,000 shares during the period. Rockefeller Capital Management L.P. lifted its holdings 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 lifted its holdings 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. lifted its holdings 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. Finally, Swiss Life Asset Management Ltd bought a new stake in shares of Ballard Power Systems during the 4th quarter worth approximately $26,000. Institutional investors own 28.02% of the company’s stock.

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.