Ballard Power Systems (NASDAQ:BLDP) Trading Up 8.1% Following Analyst Upgrade

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shot up 8.1% during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $2.00 to $3.30. Susquehanna currently has a neutral rating on the stock. Ballard Power Systems traded as high as $3.63 and last traded at $3.77. 3,565,459 shares were traded during mid-day trading, a decline of 58% from the average session volume of 8,405,122 shares. The stock had previously closed at $3.49.

Several other brokerages have also commented on BLDP. BMO Capital Markets upped their target price on Ballard Power Systems from $1.00 to $1.10 and gave the company an “underperform” rating in a research report on Tuesday, August 12th. Roth Capital boosted their price target on Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a research note on Monday, August 11th. HSBC set a $3.40 price objective on shares of Ballard Power Systems in a research report on Thursday, October 9th. Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $1.81.

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after buying an additional 829,012 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ballard Power Systems by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after purchasing an additional 285,317 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Ballard Power Systems by 127.1% during the 1st quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company’s stock worth $814,000 after purchasing an additional 414,068 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ballard Power Systems by 39.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company’s stock worth $440,000 after purchasing an additional 108,364 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ballard Power Systems by 3.6% in the first quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock valued at $4,102,000 after purchasing an additional 130,772 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

The company has a 50-day moving average of $2.42 and a 200-day moving average of $1.80. The company has a market cap of $1.20 billion, a PE ratio of -4.02 and a beta of 1.80. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $17.98 million during the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. As a group, 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.