Ballard Power Systems, Inc. (NASDAQ:BLDP – Get Free Report) (TSE:BLD)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $1.4350 and last traded at $1.4450, with a volume of 276,116 shares trading hands. The stock had previously closed at $1.47.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BLDP. BMO Capital Markets reissued an “underperform” rating and issued a $1.50 price target on shares of Ballard Power Systems in a report on Monday. HSBC upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective on the stock in a report on Monday, August 3rd. UBS Group cut their price objective on shares of Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Thursday, October 15th. Finally, Susquehanna decreased their target price on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Reduce” and a consensus target price of $3.25.
View Our Latest Research Report on BLDP
Ballard Power Systems Trading Down 0.3%
The firm has a market capitalization of $514.67 million, a price-to-earnings ratio of -5.60 and a beta of 2.26. The business’s fifty day moving average is $2.09 and its 200 day moving average is $3.16. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03.
Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last released its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. The firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. Equities analysts predict that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. J. Derek Lewis & Associates Inc. grew its position in shares of Ballard Power Systems by 10.9% during the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,000 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 6,952 shares during the period. Farringdon Capital Ltd. acquired a new stake in Ballard Power Systems during the second quarter worth about $41,000. TD Waterhouse Canada Inc. lifted its position in Ballard Power Systems by 56.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock worth $114,000 after acquiring an additional 10,850 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Ballard Power Systems in the 1st quarter worth about $33,000. 28.02% of the stock is currently owned by institutional investors.
Ballard Power Systems Company Profile
Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.
The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.
Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.
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