Ballard Power Systems (BLDP) Shares Gap Up to $3.83

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Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.94, but opened at $3.83. Ballard Power Systems shares last traded at $3.83, with a volume of 62954 shares changing hands.

Several equities analysts have recently issued reports on the company. B. Riley set a $5.00 price target on Ballard Power Systems and gave the company a “buy” rating in a research note on Friday, August 3rd. HC Wainwright set a $6.00 price target on Ballard Power Systems and gave the company a “buy” rating in a research note on Friday, August 3rd. BidaskClub upgraded Ballard Power Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Finally, Zacks Investment Research lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Ballard Power Systems presently has an average rating of “Hold” and a consensus price target of $4.58.

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.64 and a quick ratio of 1.83. The company has a market cap of $632.97 million, a PE ratio of -124.33 and a beta of 1.69.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Ballard Power Systems had a negative return on equity of 9.99% and a negative net margin of 11.58%. The company had revenue of $26.45 million for the quarter, compared to analyst estimates of $23.33 million. equities analysts expect that Ballard Power Systems Inc will post -0.07 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV raised its stake in shares of Ballard Power Systems by 104.8% during the first quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock valued at $330,000 after purchasing an additional 47,515 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Ballard Power Systems by 16.6% during the first quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock valued at $500,000 after purchasing an additional 20,000 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Ballard Power Systems by 38.8% during the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after purchasing an additional 39,370 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Ballard Power Systems by 49.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after purchasing an additional 30,694 shares in the last quarter. Finally, Herald Investment Management Ltd raised its stake in shares of Ballard Power Systems by 102.5% during the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 324,000 shares in the last quarter. Institutional investors own 3.78% of the company’s stock.

Ballard Power Systems Company Profile (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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