Ballard Power Systems (NASDAQ:BLDP) Sees Unusually-High Trading Volume – Here’s Why

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares saw an uptick in trading volume on Friday . 7,240,183 shares were traded during trading, an increase of 46% from the previous session’s volume of 4,958,125 shares.The stock last traded at $5.7850 and had previously closed at $5.43.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BLDP. Susquehanna lifted their target price on Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a report on Wednesday. National Bank Financial increased their price target on 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. ATB Cormark Capital Markets increased their price target on Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Monday, April 20th. Finally, BMO Capital Markets increased their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ballard Power Systems presently has an average rating of “Reduce” and a consensus price target of $3.59.

Ballard Power Systems Price Performance

The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -21.17 and a beta of 1.94. 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 stock has a 50-day moving average of $3.18 and a two-hundred day moving average of $2.81.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The firm had revenue of $18.98 million during the quarter, compared to analyst estimates of $19.88 million. On average, analysts anticipate that Ballard Power Systems, Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its stake 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 worth $25,000 after purchasing an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Ballard Power Systems during the 4th quarter worth about $26,000. Ground Swell Capital LLC purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth about $26,000. Intesa Sanpaolo S.p.A. purchased a new stake in shares of Ballard Power Systems during the 4th quarter worth about $28,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth about $33,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.