Ballard Power Systems (NASDAQ:BLDP) Trading Down 3.7%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) shares fell 3.7% on Friday . The stock traded as low as $1.68 and last traded at $1.69. 70,704 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,764,560 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLDP. Wells Fargo & Company decreased their price objective on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. National Bankshares reduced their target price on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a report on Monday. Truist Financial dropped their price target on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, Raymond James dropped their price target on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Stock Performance

The company has a market capitalization of $497.02 million, a PE ratio of -2.82 and a beta of 1.78. The company has a 50 day moving average of $1.98 and a two-hundred day moving average of $2.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that Ballard Power Systems Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors have recently modified their holdings of the stock. Endowment Wealth Management Inc. purchased a new stake in shares of Ballard Power Systems in the first quarter worth $28,000. Tidal Investments LLC bought a new position in shares of Ballard Power Systems during the first quarter valued at $39,000. Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the first quarter valued at $59,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter valued at $52,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other 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.