Ballard Power Systems (NASDAQ:BLDP) Trading Down 5.2%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was down 5.2% on Monday . The stock traded as low as $2.53 and last traded at $2.53. Approximately 366,889 shares were traded during trading, a decline of 87% from the average daily volume of 2,797,077 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLDP shares. TD Securities raised their price objective on shares of Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a report on Thursday, May 9th. National Bankshares lowered their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a report on Wednesday, May 8th. HSBC lowered their price target on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Truist Financial reissued a “hold” rating and issued a $3.00 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.49.

Ballard Power Systems Trading Down 6.4 %

The business’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $2.97. The company has a market capitalization of $748.48 million, a P/E ratio of -4.10 and a beta of 1.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.66 and a quick ratio of 10.88.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) earnings per share. As a group, analysts forecast that Ballard Power Systems Inc. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors have recently added to or reduced their stakes in BLDP. Endowment Wealth Management Inc. bought a new stake in Ballard Power Systems in the 1st quarter valued at $28,000. Headlands Technologies LLC bought a new stake in Ballard Power Systems in the 4th quarter valued at $31,000. FNY Investment Advisers LLC increased its stake in Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after buying an additional 10,000 shares during the last quarter. Tidal Investments LLC acquired a new stake in Ballard Power Systems in the 1st quarter valued at $39,000. Finally, Westwood Holdings Group Inc. acquired a new stake in Ballard Power Systems in the 1st quarter valued at $59,000. 28.02% of the stock is owned by institutional investors.

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.