Ballard Power Systems Target of Unusually Large Options Trading (NASDAQ:BLDP)

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) saw some unusual options trading activity on Friday. Investors purchased 7,457 call options on the stock. This represents an increase of approximately 485% compared to the typical daily volume of 1,275 call options.

Ballard Power Systems Stock Up 23.0%

Shares of NASDAQ BLDP opened at $3.53 on Friday. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.60. The company has a market capitalization of $1.06 billion, a P/E ratio of -3.57 and a beta of 1.80. The company’s 50 day moving average price is $2.17 and its 200-day moving average price is $1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.32 and a current ratio of 9.31.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its 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 business had revenue of $17.98 million during the quarter, compared to the consensus estimate of $17.94 million. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. Equities analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after buying an additional 829,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ballard Power Systems by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after acquiring an additional 285,317 shares in the last quarter. Graham Capital Management L.P. boosted its holdings in shares of Ballard Power Systems by 127.1% during the first quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company’s stock worth $814,000 after purchasing an additional 414,068 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ballard Power Systems by 39.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company’s stock worth $440,000 after purchasing an additional 108,364 shares during the period. Finally, Invesco Ltd. boosted its position in Ballard Power Systems by 3.6% in the 1st quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock valued at $4,102,000 after buying an additional 130,772 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets lifted their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a report on Tuesday, August 12th. Wells Fargo & Company lifted their price objective on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Saturday, September 27th. Lake Street Capital lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, National Bank Financial upgraded shares of Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. Ten investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $1.51.

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.