Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up to $2.55

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.55, but opened at $2.62. Ballard Power Systems shares last traded at $2.73, with a volume of 731,423 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on BLDP shares. CIBC dropped their price objective on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Truist Financial reaffirmed a “hold” rating and set a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research report on Wednesday, May 8th. National Bankshares dropped their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 8th. TD Securities raised their target price on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Raymond James dropped their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.59.

Ballard Power Systems Price Performance

The firm has a 50 day moving average of $2.87 and a 200-day moving average of $3.14. The company has a market cap of $823.32 million, a P/E ratio of -4.40 and a beta of 1.79. The company has a current ratio of 11.66, a quick ratio of 10.88 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. On average, equities research analysts predict that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

Institutional Trading of Ballard Power Systems

Large investors have recently added to or reduced their stakes in the company. Endowment Wealth Management Inc. bought a new stake in Ballard Power Systems in the 1st quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in Ballard Power Systems in the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC increased its stake in Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after acquiring an additional 10,000 shares during the last quarter. Tidal Investments LLC bought a new stake in Ballard Power Systems in the 1st quarter worth approximately $39,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after acquiring an additional 3,753 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.