Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was down 3.4% on Friday . The company traded as low as $3.89 and last traded at $4.21. Approximately 1,485,600 shares changed hands during trading, an increase of 30% from the average daily volume of 1,143,067 shares. The stock had previously closed at $4.36.
A number of equities research analysts recently weighed in on BLDP shares. B. Riley set a $6.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Tuesday, October 31st. HC Wainwright restated a “buy” rating and set a $6.00 price objective (up from $3.00) on shares of Ballard Power Systems in a research note on Friday, September 15th. FBR & Co restated a “buy” rating and set a $6.00 price objective (up from $3.50) on shares of Ballard Power Systems in a research note on Monday, September 18th. Finally, Cowen increased their price target on Ballard Power Systems from $3.00 to $4.50 and gave the company a “market perform” rating in a research note on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Ballard Power Systems presently has an average rating of “Hold” and an average price target of $5.50.
The company has a current ratio of 2.70, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $702.65, a P/E ratio of -99.25 and a beta of 2.50.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Ballard Power Systems had a negative return on equity of 4.36% and a negative net margin of 5.57%. The company had revenue of $31.90 million during the quarter, compared to analysts’ expectations of $28.33 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s revenue was up 54.9% compared to the same quarter last year. research analysts anticipate that Ballard Power Systems Inc. will post -0.04 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Bluestein R H & Co. raised its stake in Ballard Power Systems by 11.2% in the third quarter. Bluestein R H & Co. now owns 233,000 shares of the technology company’s stock valued at $1,090,000 after buying an additional 23,500 shares during the last quarter. PEAK6 Investments L.P. raised its stake in Ballard Power Systems by 556.3% in the third quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock valued at $1,015,000 after buying an additional 183,921 shares during the last quarter. First Trust Advisors LP raised its stake in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ballard Power Systems in the second quarter valued at about $105,000. Finally, Jane Street Group LLC purchased a new stake in Ballard Power Systems in the third quarter valued at about $141,000. Institutional investors own 3.06% of the company’s stock.
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About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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