Ballard Power Systems (NASDAQ:BLDP) Trading Down 5.5% – Should You Sell?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) were down 5.5% during mid-day trading on Thursday . The stock traded as low as $4.01 and last traded at $4.14. Approximately 5,276,073 shares traded hands during trading, a decline of 7% from the average daily volume of 5,644,131 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research note on Friday, March 27th. Raymond James Financial lifted their price target on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a report on Wednesday, May 6th. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.00 to $5.00 in a research note on Tuesday, May 5th. BMO Capital Markets increased their price objective on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a report on Wednesday, May 6th. Finally, TD Cowen raised their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.59.

Ballard Power Systems Trading Up 0.2%

The company has a market capitalization of $1.27 billion, a PE ratio of -15.63 and a beta of 2.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. The business has a fifty day moving average price of $4.15 and a 200 day moving average price of $3.07.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (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 business had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. Analysts expect that Ballard Power Systems, Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted 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 acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in Ballard Power Systems in the 4th quarter valued at $26,000. Ground Swell Capital LLC purchased a new position in Ballard Power Systems in the first quarter valued at about $26,000. Intesa Sanpaolo S.p.A. purchased a new position in Ballard Power Systems in the fourth quarter valued at about $28,000. Finally, Cetera Investment Advisers acquired a new position in shares of Ballard Power Systems during the first quarter worth about $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.