Investors Purchase Large Volume of Ballard Power Systems Put Options (NASDAQ:BLDP)

Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) was the target of some unusual options trading on Monday. Investors purchased 8,340 put options on the stock. This is an increase of approximately 2,879% compared to the average volume of 280 put options.

Several institutional investors have recently modified their holdings of BLDP. First Trust Advisors LP boosted its holdings in shares of Ballard Power Systems by 3.8% during the 1st quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock worth $679,000 after purchasing an additional 8,275 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Ballard Power Systems by 1.0% during the 4th quarter. Swiss National Bank now owns 357,400 shares of the technology company’s stock worth $2,551,000 after purchasing an additional 3,400 shares during the last quarter. State Street Corp boosted its holdings in shares of Ballard Power Systems by 80.2% during the 4th quarter. State Street Corp now owns 138,315 shares of the technology company’s stock worth $993,000 after purchasing an additional 61,548 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Ballard Power Systems by 4.2% during the 4th quarter. Bank of Montreal Can now owns 355,046 shares of the technology company’s stock worth $2,549,000 after purchasing an additional 14,436 shares during the last quarter. Finally, HAP Trading LLC acquired a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $223,000. Institutional investors and hedge funds own 6.60% of the company’s stock.

A number of analysts have recently weighed in on the company. Zacks Investment Research cut Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Monday, June 15th. ValuEngine cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. BidaskClub raised Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. TD Securities initiated coverage on Ballard Power Systems in a research report on Thursday, June 18th. They set a “hold” rating and a $14.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Ballard Power Systems in a research note on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Ballard Power Systems presently has an average rating of “Buy” and a consensus price target of $13.85.

BLDP stock opened at $15.53 on Tuesday. The company has a current ratio of 4.43, a quick ratio of 3.89 and a debt-to-equity ratio of 0.05. Ballard Power Systems has a 12-month low of $3.92 and a 12-month high of $15.99. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -91.35 and a beta of 1.57. The business’s 50-day moving average is $11.71 and its 200 day moving average is $9.85.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Ballard Power Systems had a negative return on equity of 15.28% and a negative net margin of 35.47%. The firm had revenue of $24.00 million during the quarter, compared to analyst estimates of $26.00 million. As a group, equities analysts forecast that Ballard Power Systems will post -0.18 EPS for the current fiscal year.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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