Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD)’s share price shot up 12.2% on Friday . The company traded as high as $3.79 and last traded at $3.78. 1,723,749 shares changed hands during trading, an increase of 36% from the average session volume of 1,264,144 shares. The stock had previously closed at $3.37.

A number of brokerages have weighed in on BLDP. BidaskClub raised Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. B. Riley set a $5.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a report on Tuesday, September 4th. HC Wainwright set a $6.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research cut Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ballard Power Systems currently has an average rating of “Hold” and an average price target of $4.58.

The firm has a market capitalization of $627.61 million, a PE ratio of -124.67 and a beta of 1.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.64 and a quick ratio of 1.83.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Ballard Power Systems had a negative return on equity of 9.99% and a negative net margin of 11.58%. The company had revenue of $26.45 million during the quarter, compared to analysts’ expectations of $23.33 million. equities analysts forecast that Ballard Power Systems Inc will post -0.07 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Global X Management Co LLC bought a new stake in shares of Ballard Power Systems in the second quarter valued at approximately $231,000. Herald Investment Management Ltd boosted its stake in shares of Ballard Power Systems by 102.5% in the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after buying an additional 324,000 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Ballard Power Systems by 49.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after buying an additional 30,694 shares during the period. Royal Bank of Canada boosted its stake in shares of Ballard Power Systems by 38.8% in the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after buying an additional 39,370 shares during the period. Finally, PCJ Investment Counsel Ltd. boosted its stake in shares of Ballard Power Systems by 16.6% in the first quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock valued at $500,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds own 3.78% of the company’s stock.

About Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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