Ballard Power Systems (NASDAQ:BLDP) Trading 8.4% Higher – Time to Buy?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) traded up 8.4% during trading on Tuesday . The company traded as high as $3.39 and last traded at $3.4350. 2,129,469 shares changed hands during trading, a decline of 34% from the average session volume of 3,203,386 shares. The stock had previously closed at $3.17.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Monday. Wells Fargo & Company raised their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a research report on Friday, January 9th. Finally, TD Cowen raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $2.69.

Ballard Power Systems Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 9.86. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -11.28 and a beta of 1.68. The stock’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $2.74.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $33.28 million for the quarter, compared to the consensus estimate of $32.24 million. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. Equities research analysts anticipate that Ballard Power Systems, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Ballard Power Systems by 228.1% in the 4th 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 period. Swiss Life Asset Management Ltd acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $26,000. Ground Swell Capital LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at $26,000. Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after purchasing an additional 12,149 shares during the period. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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.