Ballard Power Systems (NASDAQ:BLDP) Sees Strong Trading Volume – Here’s Why

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) saw an uptick in trading volume on Friday . 7,240,183 shares were traded during trading, an increase of 46% from the previous session’s volume of 4,958,125 shares.The stock last traded at $5.7850 and had previously closed at $5.43.

Analyst Ratings Changes

A number of brokerages recently weighed in on BLDP. ATB Cormark Capital Markets upped their price target on shares of Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Raymond James Financial upped their price target on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. TD Cowen upped their price target on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. National Bank Financial upped their price objective on shares of Ballard Power Systems from $3.15 to $4.75 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Susquehanna upped their price objective on shares of Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $3.59.

Ballard Power Systems Trading Up 2.0%

The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $3.24 and its two-hundred day simple moving average is $2.83. The company has a market capitalization of $1.67 billion, a PE ratio of -20.52 and a beta of 1.94.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. On average, analysts predict that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Ballard Power Systems by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 692,201 shares of the technology company’s stock worth $1,883,000 after purchasing an additional 215,954 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Ballard Power Systems by 108.5% during the fourth quarter. GSA Capital Partners LLP now owns 709,304 shares of the technology company’s stock worth $1,802,000 after purchasing an additional 369,137 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Ballard Power Systems during the fourth quarter worth about $319,000. Swiss Life Asset Management Ltd bought a new position in shares of Ballard Power Systems during the fourth quarter worth about $26,000. Finally, J. Derek Lewis & Associates Inc. lifted its position in shares of Ballard Power Systems by 10.9% during the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after purchasing an additional 5,000 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.