Ballard Power Systems (NASDAQ:BLDP) Hits New 1-Year Low – Should You Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $1.43 and last traded at $1.4250, with a volume of 963,736 shares traded. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

BLDP has been the subject of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $1.68 price target on shares of Ballard Power Systems in a report on Tuesday, October 27th. UBS Group decreased their price objective on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price for the company in a research report on Monday, August 3rd. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Ballard Power Systems presently has a consensus rating of “Reduce” and a consensus price target of $3.13.

Ballard Power Systems Stock Up 5.1%

The company has a 50 day simple moving average of $1.92 and a two-hundred day simple moving average of $2.84. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $539.68 million, a P/E ratio of -5.90 and a beta of 2.21.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently added to or reduced their stakes in BLDP. J. Derek Lewis & Associates Inc. grew its holdings in Ballard Power Systems by 10.9% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in shares of Ballard Power Systems during the second quarter worth about $41,000. TD Waterhouse Canada Inc. grew its stake in shares of Ballard Power Systems by 56.8% during the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock worth $114,000 after acquiring an additional 10,850 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Ballard Power Systems during the first quarter valued at about $33,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.