Ballard Power Systems (NASDAQ:BLDP) Shares Up 9% – What’s Next?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) traded up 9% on Tuesday . The company traded as high as $4.08 and last traded at $4.0650. Approximately 5,183,754 shares changed hands during trading, a decline of 11% from the average daily volume of 5,851,190 shares. The stock had previously closed at $3.73.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. Raymond James Financial upped their target price on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. TD Cowen raised their price objective on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price 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. Finally, BMO Capital Markets increased their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $3.59.

Ballard Power Systems Stock Up 6.8%

The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -14.87 and a beta of 2.19. The business’s 50-day moving average is $4.45 and its 200-day moving average is $3.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. On average, equities analysts predict that Ballard Power Systems, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLDP. Rockefeller Capital Management L.P. grew its stake in shares of Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in Ballard Power Systems during the 4th quarter worth about $26,000. Ground Swell Capital LLC acquired a new position in Ballard Power Systems during the 1st quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new position in Ballard Power Systems during the 4th quarter valued at about $28,000. Finally, Cetera Investment Advisers bought a new position in shares of Ballard Power Systems in the 1st quarter valued at about $33,000. 28.02% of the stock is 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.