Ballard Power Systems (NASDAQ:BLDP) Sets New 1-Year Low – What’s Next?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $1.60 and last traded at $1.69, with a volume of 2248853 shares traded. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

Several research analysts recently commented on BLDP shares. Susquehanna cut their price target on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. CIBC reiterated an “underperformer” rating and issued a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a research note on Tuesday, August 13th. Jefferies Financial Group cut their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. BMO Capital Markets lowered their price objective on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a report on Tuesday, August 13th. Finally, Cibc World Mkts lowered Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and an average price target of $2.92.

Ballard Power Systems Price Performance

The company has a market capitalization of $506.00 million, a P/E ratio of -2.68 and a beta of 1.78. The company has a fifty day moving average price of $1.79 and a 200 day moving average price of $2.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted 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 during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. On average, sell-side analysts forecast that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Ballard Power Systems in the 4th quarter worth approximately $192,000. Van ECK Associates Corp grew 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 worth $5,936,000 after buying an additional 353,098 shares in the last quarter. Toronto Dominion Bank lifted its position in Ballard Power Systems by 182.8% in the first quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock worth $96,000 after purchasing an additional 22,273 shares during the period. BNP Paribas Financial Markets lifted its position in Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after purchasing an additional 8,549 shares during the period. Finally, Integrated Advisors Network LLC lifted its position in Ballard Power Systems by 163.2% in the fourth quarter. Integrated Advisors Network LLC now owns 31,712 shares of the technology company’s stock worth $117,000 after purchasing an additional 19,662 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.