Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up - Here's Why

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD gapped up before the market opened on Monday . The stock had previously closed at $1.62, but opened at $1.70. Ballard Power Systems shares last traded at $1.73, with a volume of 250,583 shares trading hands.

Wall Street Analyst Weigh In

BLDP has been the subject of several recent analyst reports. Cibc World Mkts downgraded shares of Ballard Power Systems from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 13th. BMO Capital Markets lowered their price target on Ballard Power Systems from $2.25 to $1.70 and set an "underperform" rating on the stock in a research report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a "hold" rating to a "sell" rating and cut their price objective for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. CIBC reaffirmed an "underperformer" rating and issued a $1.60 target price (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. Finally, Jefferies Financial Group cut their price target on Ballard Power Systems from $3.25 to $2.00 and set a "hold" rating for the company in a report on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.89.

Ballard Power Systems Trading Up 6.8 %

The company has a 50 day moving average of $1.70 and a 200 day moving average of $2.23. The firm has a market cap of $518.00 million, a price-to-earnings ratio of -2.82 and a beta of 1.78. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. As a group, research analysts anticipate that Ballard Power Systems Inc. will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently bought and sold shares of BLDP. Endowment Wealth Management Inc. bought a new stake in Ballard Power Systems during the 1st quarter worth about $28,000. Tidal Investments LLC bought a new stake in shares of Ballard Power Systems during the first quarter valued at approximately $39,000. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems in the second quarter valued at approximately $52,000. Daiwa Securities Group Inc. raised its position in Ballard Power Systems by 149.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock worth $54,000 after purchasing an additional 14,415 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in Ballard Power Systems during the 1st quarter worth $59,000. 28.02% of the stock is currently owned by institutional investors.

About Ballard Power Systems

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.