Ballard Power Systems (BLDP) Shares Up 9%

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Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD)’s share price shot up 9% on Tuesday . The stock traded as high as $3.98 and last traded at $3.86. 3,469,711 shares traded hands during trading, an increase of 172% from the average session volume of 1,274,605 shares. The stock had previously closed at $3.54.

Several research firms have recently weighed in on BLDP. B. Riley set a $5.00 target price on shares of Ballard Power Systems and gave the company a “buy” rating in a report on Tuesday. HC Wainwright set a $6.00 target price on shares of Ballard Power Systems and gave the company a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, BidaskClub raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Ballard Power Systems currently has an average rating of “Hold” and an average target price of $4.58.

The firm has a market capitalization of $632.97 million, a P/E ratio of -128.67 and a beta of 1.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 2.64.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Management Co LLC purchased a new stake in Ballard Power Systems in the 2nd quarter worth $231,000. Commerzbank Aktiengesellschaft FI increased its holdings in Ballard Power Systems by 49.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock worth $264,000 after acquiring an additional 30,694 shares in the last quarter. KBC Group NV increased its holdings in Ballard Power Systems by 104.8% in the 1st quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock worth $330,000 after acquiring an additional 47,515 shares in the last quarter. Royal Bank of Canada increased its holdings in Ballard Power Systems by 38.8% in the 1st quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock worth $500,000 after acquiring an additional 39,370 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. increased its holdings in Ballard Power Systems by 16.6% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock worth $500,000 after acquiring an additional 20,000 shares in the last quarter. 3.78% of the stock is owned by institutional investors.

About Ballard Power Systems (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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