Ballard Power Systems (NASDAQ:BLDP) Shares Gap Down to $2.58

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD shares gapped down prior to trading on Monday . The stock had previously closed at $2.58, but opened at $2.52. Ballard Power Systems shares last traded at $2.52, with a volume of 396,880 shares trading hands.

Analyst Upgrades and Downgrades

BLDP has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Ballard Power Systems from $3.50 to $3.00 and set an "underweight" rating for the company in a research report on Thursday, May 9th. Truist Financial reaffirmed a "hold" rating and issued a $3.00 target price (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. TD Securities upped their target price on shares of Ballard Power Systems from $2.50 to $2.75 and gave the stock a "hold" rating in a research note on Wednesday, May 8th. Raymond James reduced their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a "market perform" rating for the company in a research note on Wednesday, March 13th. Finally, CIBC reduced their target price on shares of Ballard Power Systems from $3.75 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Ballard Power Systems currently has an average rating of "Hold" and a consensus target price of $3.59.

Ballard Power Systems Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66. The stock's fifty day moving average price is $2.84 and its 200-day moving average price is $3.11. The company has a market capitalization of $733.51 million, a P/E ratio of -4.16 and a beta of 1.80.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) 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 analysts' consensus estimates of ($0.13) by ($0.01). The firm had revenue of $14.50 million during 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 in the previous year, the company posted ($0.11) earnings per share. As a group, research analysts anticipate that Ballard Power Systems Inc. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. Van ECK Associates Corp raised its holdings in Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company's stock valued at $5,936,000 after acquiring an additional 353,098 shares during the period. Vontobel Holding Ltd. raised its holdings in Ballard Power Systems by 18.2% in the 4th quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company's stock valued at $7,732,000 after acquiring an additional 321,624 shares during the period. Jump Financial LLC bought a new position in Ballard Power Systems in the 4th quarter valued at about $1,086,000. Rafferty Asset Management LLC raised its holdings in Ballard Power Systems by 49.5% in the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company's stock valued at $2,642,000 after acquiring an additional 236,449 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company's stock valued at $33,476,000 after acquiring an additional 148,321 shares during the period. 28.02% of the stock is owned by institutional investors.

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.