Ballard Power Systems (NASDAQ:BLDP) Sees Large Volume Increase

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Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) shares saw strong trading volume on Monday . 3,145,223 shares traded hands during trading, an increase of 282% from the previous session’s volume of 822,990 shares.The stock last traded at $5.10 and had previously closed at $4.61.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Wednesday, July 3rd. Roth Capital lowered Ballard Power Systems from a “neutral” rating to a “sell” rating and set a $3.00 price objective for the company. in a research report on Monday, July 1st. They noted that the move was a valuation call. ValuEngine raised Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, BidaskClub raised Ballard Power Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $3.70.

The stock’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $3.80. The stock has a market capitalization of $1.19 billion, a PE ratio of -38.92 and a beta of 1.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.85 and a current ratio of 4.40.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $22.42 million. Ballard Power Systems had a negative net margin of 40.67% and a negative return on equity of 13.15%. Ballard Power Systems’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. On average, analysts predict that Ballard Power Systems Inc will post -0.13 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Ballard Power Systems in the 2nd quarter worth about $116,000. Jane Street Group LLC purchased a new position in shares of Ballard Power Systems during the 2nd quarter valued at $41,000. Candriam Luxembourg S.C.A. acquired a new position in Ballard Power Systems in the 1st quarter worth about $33,000. Toronto Dominion Bank raised its position in Ballard Power Systems by 87.6% during the first quarter. Toronto Dominion Bank now owns 32,737 shares of the technology company’s stock valued at $99,000 after acquiring an additional 15,286 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Ballard Power Systems during the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

About Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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