Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up – Should You Buy?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) gapped up before the market opened on Wednesday . The stock had previously closed at $2.37, but opened at $2.47. Ballard Power Systems shares last traded at $2.4850, with a volume of 1,161,230 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. HSBC raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price on the stock in a research note on Monday, August 3rd. National Bank Financial set a $4.75 price target on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. Susquehanna decreased their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.50.

Ballard Power Systems Stock Down 5.9%

The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The business has a 50 day simple moving average of $2.66 and a 200 day simple moving average of $3.25. The stock has a market cap of $779.42 million, a PE ratio of -8.54 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to analysts’ expectations of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. On average, equities research analysts forecast that Ballard Power Systems, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its holdings in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in Ballard Power Systems in the fourth quarter worth $26,000. Ground Swell Capital LLC bought a new stake in Ballard Power Systems in the first quarter worth $26,000. Intesa Sanpaolo S.p.A. acquired a new position in Ballard Power Systems during the fourth quarter worth $28,000. Finally, Cetera Investment Advisers acquired a new position in Ballard Power Systems during the first quarter worth $33,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.