Ballard Power Systems (NASDAQ:BLDP) Reaches New 1-Year Low – Time to Sell?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $1.55 and last traded at $1.5550, with a volume of 295,227 shares trading hands. The stock had previously closed at $1.57.

Analysts Set New Price Targets

A number of research firms have commented on BLDP. HSBC raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective on the stock in a research note on Monday, August 3rd. UBS Group lowered their target price on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Susquehanna cut their price target on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Wall Street Zen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Ballard Power Systems has a consensus rating of “Reduce” and a consensus price target of $3.30.

Ballard Power Systems Trading Down 0.7%

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 firm has a market cap of $530.48 million, a price-to-earnings ratio of -5.81 and a beta of 2.26. The business’s fifty day moving average is $2.16 and its two-hundred day moving average is $3.18.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its 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 the consensus estimate of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. Equities analysts anticipate that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted 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 acquiring an additional 6,952 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $26,000. Cetera Investment Advisers bought a new stake in Ballard Power Systems in the 1st quarter valued at $33,000. Caitong International Asset Management Co. Ltd raised its stake in Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after acquiring an additional 12,149 shares during the period. Finally, Farringdon Capital Ltd. bought a new stake in Ballard Power Systems in the 2nd quarter valued at $41,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.