Ballard Power Systems (NASDAQ:BLDP) Trading 8.7% Higher – What’s Next?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price shot up 8.7% on Friday . The stock traded as high as $4.45 and last traded at $4.4890. 17,752,967 shares were traded during mid-day trading, an increase of 312% from the average session volume of 4,311,874 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

BLDP has been the topic of several research analyst reports. TD Cowen lifted their price target on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. ATB Cormark Capital Markets increased their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. National Bank Financial upped their price target on shares of Ballard Power Systems from $3.15 to $4.75 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets raised their price objective on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.51.

Ballard Power Systems Trading Up 12.7%

The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $2.92 and a 200-day moving average price of $2.77. The firm has a market capitalization of $1.40 billion, a PE ratio of -16.63 and a beta of 1.94.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million for the quarter, compared to the consensus estimate of $19.88 million. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%. Analysts expect that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its position in 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 buying an additional 6,952 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC acquired a new stake in shares of Ballard Power Systems during the 1st quarter valued at approximately $26,000. Intesa Sanpaolo S.p.A. purchased a new stake in shares of Ballard Power Systems during the 4th quarter worth approximately $28,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Ballard Power Systems in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.