Ballard Power Systems (NASDAQ:BLDP) Trading 5.7% Higher

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD)’s stock price traded up 5.7% during trading on Wednesday . The stock traded as high as $7.21 and last traded at $7.20. 201,112 shares traded hands during trading, a decline of 92% from the average session volume of 2,638,164 shares. The stock had previously closed at $6.81.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James lowered shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $9.00 to $10.00 in a research note on Wednesday, August 10th. KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research note on Thursday, June 2nd. Piper Sandler assumed coverage on shares of Ballard Power Systems in a research note on Wednesday, June 8th. They set a “sell” rating and a $5.00 price target on the stock. National Bankshares cut their price target on shares of Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, August 11th. Finally, Cowen lifted their price target on shares of Ballard Power Systems to $9.00 in a research note on Monday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.58.

Ballard Power Systems Trading Down 5.5 %

The company’s fifty day moving average price is $7.72 and its two-hundred day moving average price is $8.31. The company has a quick ratio of 14.36, a current ratio of 15.16 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its earnings results on Wednesday, August 10th. The technology company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $20.90 million during the quarter, compared to analysts’ expectations of $24.16 million. Ballard Power Systems had a negative net margin of 164.44% and a negative return on equity of 12.13%. The firm’s revenue was down 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. On average, equities analysts predict that Ballard Power Systems Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Ballard Power Systems by 5.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,226,574 shares of the technology company’s stock worth $25,955,000 after buying an additional 123,919 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ballard Power Systems by 24.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 510,089 shares of the technology company’s stock worth $5,942,000 after buying an additional 99,149 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in Ballard Power Systems during the fourth quarter worth about $289,000. Millburn Ridgefield Corp raised its position in Ballard Power Systems by 238.0% during the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock worth $52,000 after acquiring an additional 3,116 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in Ballard Power Systems by 46.8% during the fourth quarter. Penserra Capital Management LLC now owns 287,451 shares of the technology company’s stock worth $3,610,000 after acquiring an additional 91,623 shares during the last quarter. Hedge funds and other institutional investors own 28.25% of the company’s stock.

About Ballard Power Systems

(Get Rating)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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