Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up – Should You Buy?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.37, but opened at $2.47. Ballard Power Systems shares last traded at $2.4850, with a volume of 1,161,230 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BLDP shares. National Bank Financial set a $4.75 price target on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research note on Tuesday, August 4th. HSBC upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price on the stock in a report on Monday, August 3rd. Finally, Susquehanna decreased their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Reduce” and a consensus target price of $3.50.

Ballard Power Systems Price Performance

The company has a market cap of $844.37 million, a price-to-earnings ratio of -9.25 and a beta of 2.26. The company’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $3.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share 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 analysts’ expectations of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. On average, equities research analysts anticipate that Ballard Power Systems, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its holdings in Ballard Power Systems by 228.1% in 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 acquired a new stake in Ballard Power Systems during the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC purchased a new stake in Ballard Power Systems during the 1st quarter worth approximately $26,000. Farringdon Capital Ltd. purchased a new stake in Ballard Power Systems during the 2nd quarter worth approximately $41,000. Finally, Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $28,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.