Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up to $2.55

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) gapped up before the market opened on Tuesday . The stock had previously closed at $2.55, but opened at $2.62. Ballard Power Systems shares last traded at $2.73, with a volume of 731,423 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLDP. Raymond James decreased their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Jefferies Financial Group decreased their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company dropped their target price on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. TD Securities increased their price target on Ballard Power Systems from $2.50 to $2.75 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, National Bankshares dropped their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and a consensus price target of $3.59.

Ballard Power Systems Price Performance

The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $3.13.

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

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter worth approximately $31,000. Endowment Wealth Management Inc. acquired a new stake in Ballard Power Systems in the first quarter worth $28,000. FNY Investment Advisers LLC lifted its stake in Ballard Power Systems by 5,000.0% in the fourth 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. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ballard Power Systems by 37.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after acquiring an additional 3,753 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Ballard Power Systems during the first quarter worth about $39,000. 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.