Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up After Analyst Upgrade

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) gapped up prior to trading on Tuesday after Susquehanna raised their price target on the stock from $1.30 to $2.00. The stock had previously closed at $1.94, but opened at $2.02. Susquehanna currently has a neutral rating on the stock. Ballard Power Systems shares last traded at $1.97, with a volume of 845,099 shares trading hands.

Several other research analysts also recently issued reports on the company. Wall Street Zen raised Ballard Power Systems to a “sell” rating in a report on Thursday, May 8th. National Bank Financial upgraded Ballard Power Systems to a “hold” rating in a report on Sunday, June 8th. UBS Group decreased their price objective on Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a report on Monday, May 12th. Finally, Citigroup reiterated a “sell” rating and issued a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.14.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BLDP. Portolan Capital Management LLC purchased a new stake in Ballard Power Systems in the 4th quarter worth approximately $2,508,000. Millennium Management LLC grew its holdings in Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after acquiring an additional 1,177,718 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Ballard Power Systems by 58.4% during the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Ballard Power Systems by 56.2% during the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after acquiring an additional 534,834 shares during the period. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

The business’s 50-day moving average is $1.56 and its 200-day moving average is $1.41. The company has a market capitalization of $611.69 million, a PE ratio of -2.00 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. On average, research analysts anticipate that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

Ballard Power Systems Company Profile

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.