Ballard Power Systems (NASDAQ:BLDP) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.06 and traded as high as $3.59. Ballard Power Systems shares last traded at $3.37, with a volume of 7,321,042 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BLDP shares. UBS Group raised their target price on shares of Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Roth Capital raised their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a “neutral” rating in a report on Monday, August 11th. HSBC set a $3.40 target price on shares of Ballard Power Systems in a report on Thursday, October 9th. Finally, Wells Fargo & Company raised their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Reduce” and an average price target of $2.00.

Ballard Power Systems Stock Down 5.3%

The company has a market cap of $1.01 billion, a PE ratio of -3.40 and a beta of 1.80. The company’s 50 day moving average is $2.89 and its 200 day moving average is $2.06. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. As a group, analysts predict that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLDP. SBI Securities Co. Ltd. increased its stake in Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock worth $37,000 after buying an additional 13,094 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Ballard Power Systems during the 1st quarter valued at about $40,000. Vanguard Personalized Indexing Management LLC increased its position in Ballard Power Systems by 21.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after purchasing an additional 5,482 shares during the period. Daiwa Securities Group Inc. increased its position in Ballard Power Systems by 108.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after purchasing an additional 19,170 shares during the period. Finally, Virtu Financial LLC purchased a new position in Ballard Power Systems during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.