Ballard Power Systems (NASDAQ:BLDP) Stock Price Down 11% – Time to Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) fell 11% on Friday . The stock traded as low as $5.44 and last traded at $5.4020. 1,241,022 shares were traded during trading, a decline of 77% from the average session volume of 5,500,055 shares. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLDP. Wells Fargo & Company raised their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research note on Friday, March 27th. BMO Capital Markets boosted their target price on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research report on Wednesday, May 6th. National Bank Financial increased their price target on Ballard Power Systems from $3.15 to $4.75 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. TD Cowen raised their price target 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. Finally, Susquehanna lifted their price objective on shares of Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $3.59.

Ballard Power Systems Price Performance

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 company has a market capitalization of $1.50 billion, a PE ratio of -18.48 and a beta of 2.19. The stock’s 50-day moving average is $3.89 and its two-hundred day moving average is $2.99.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.88 million. On average, equities analysts predict that Ballard Power Systems, Inc. will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds have recently bought and sold shares of BLDP. J. Derek Lewis & Associates Inc. raised its stake in shares of Ballard Power Systems by 10.9% in the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after purchasing an additional 5,000 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings 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 worth $25,000 after purchasing an additional 6,952 shares during the period. Amundi boosted its position in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after buying an additional 9,454 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Ballard Power Systems by 27.7% in the fourth quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock valued at $118,000 after buying an additional 10,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new position in Ballard Power Systems in 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.