Ballard Power Systems (NASDAQ:BLDP) Stock Price Down 6.3%

Shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) fell 6.3% during trading on Friday . The company traded as low as $4.77 and last traded at $4.80. 465,802 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 2,632,514 shares. The stock had previously closed at $5.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Ballard Power Systems in a report on Thursday, December 8th. They issued a “market perform” rating and a $5.50 price objective on the stock. Wells Fargo & Company downgraded shares of Ballard Power Systems from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Friday, January 6th. National Bankshares dropped their price objective on shares of Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 17th. UBS Group assumed coverage on shares of Ballard Power Systems in a report on Tuesday, December 13th. They issued a “neutral” rating on the stock. Finally, Scotiabank assumed coverage on shares of Ballard Power Systems in a report on Thursday, March 9th. They issued a “sector perform” rating and a $7.25 price objective on the stock. Two analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, Ballard Power Systems presently has a consensus rating of “Hold” and an average price target of $7.25.

Ballard Power Systems Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 14.44 and a quick ratio of 13.65. The company has a market cap of $1.48 billion, a P/E ratio of -8.02 and a beta of 1.91. The firm’s 50-day moving average is $5.94 and its two-hundred day moving average is $5.98.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last posted its quarterly earnings data on Friday, March 17th. The technology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. The business had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $25.62 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The business’s revenue was down 44.1% compared to the same quarter last year. Analysts anticipate that Ballard Power Systems Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Ballard Power Systems by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,604,637 shares of the technology company’s stock valued at $52,660,000 after purchasing an additional 237,435 shares during the period. Legal & General Group Plc boosted its stake in shares of Ballard Power Systems by 31.3% during the fourth quarter. Legal & General Group Plc now owns 4,253,396 shares of the technology company’s stock valued at $20,342,000 after purchasing an additional 1,014,539 shares during the period. Norges Bank purchased a new stake in shares of Ballard Power Systems during the fourth quarter valued at $17,983,000. Morgan Stanley boosted its stake in shares of Ballard Power Systems by 20.9% during the fourth quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after purchasing an additional 638,824 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of Ballard Power Systems by 1.0% during the third quarter. Allianz Asset Management GmbH now owns 3,374,506 shares of the technology company’s stock valued at $20,778,000 after purchasing an additional 32,634 shares during the period. Institutional investors own 31.97% of the company’s stock.

About Ballard Power Systems

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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