Ballard Power Systems (NASDAQ:BLDP) Hits New 1-Year Low – Should You Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $1.92 and last traded at $1.9250, with a volume of 1616174 shares traded. The stock had previously closed at $2.00.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target on the stock in a research report on Monday, August 3rd. National Bank Financial set a $4.75 price target on Ballard Power Systems and gave the stock a “sector perform” rating in a report on Wednesday, June 24th. Susquehanna dropped their price objective on Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $3.39.

Ballard Power Systems Stock Performance

The company has a market capitalization of $676.27 million, a price-to-earnings ratio of -7.40 and a beta of 2.26. The company has a 50 day moving average price of $2.33 and a 200 day moving average price of $3.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. Equities research analysts predict that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in Ballard Power Systems during the second quarter worth $3,231,000. Renaissance Technologies LLC bought a new position in Ballard Power Systems during the 1st quarter valued at $1,362,000. Legal & General Group Plc purchased a new position in Ballard Power Systems during the 2nd quarter worth $28,144,000. Dimensional Fund Advisors LP grew its stake in shares of Ballard Power Systems by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,549 shares of the technology company’s stock worth $4,431,000 after acquiring an additional 283,684 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Ballard Power Systems in the 2nd quarter worth $3,392,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.