Ballard Power Systems (NASDAQ:BLDP) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.35 and traded as high as $2.87. Ballard Power Systems shares last traded at $2.80, with a volume of 2,736,168 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLDP. Zacks Research cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. UBS Group upped their price objective on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. HSBC set a $3.40 target price on Ballard Power Systems in a research report on Thursday, October 9th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research note on Friday, November 14th. Eleven investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Ballard Power Systems presently has an average rating of “Reduce” and an average price target of $2.21.

Ballard Power Systems Stock Down 0.7%

The company has a market capitalization of $842.07 million, a PE ratio of -7.00 and a beta of 1.67. The company has a current ratio of 8.33, a quick ratio of 7.53 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $2.35.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $23.76 million. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%. Research analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its holdings in Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after purchasing an additional 5,482 shares in the last quarter. Amundi lifted its holdings in shares of Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after buying an additional 9,454 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after buying an additional 13,094 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Ballard Power Systems by 12.4% in the third quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock valued at $397,000 after buying an additional 16,204 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after acquiring an additional 19,170 shares during the period. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.