Investors Purchase Large Volume of Call Options on Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was the target of unusually large options trading activity on Thursday. Stock investors acquired 23,613 call options on the company. This represents an increase of 278% compared to the average daily volume of 6,249 call options.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLDP. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. Susquehanna upped their price target on shares of Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets lifted their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. National Bank Financial boosted their price objective on Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial increased their target price on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Reduce” and a consensus target price of $3.59.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock traded down $0.31 during midday trading on Thursday, hitting $4.08. 5,922,575 shares of the company were exchanged, compared to its average volume of 5,644,131. The firm has a 50 day simple moving average of $4.08 and a 200-day simple moving average of $3.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The firm has a market cap of $1.23 billion, a P/E ratio of -15.20 and a beta of 2.19. Ballard Power Systems has a 52 week low of $1.39 and a 52 week high of $6.57.

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

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its stake in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after buying an additional 6,952 shares during the period. Swiss Life Asset Management Ltd bought a new position in shares of Ballard Power Systems during the fourth quarter worth $26,000. Ground Swell Capital LLC acquired a new position in Ballard Power Systems in the first quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $28,000. Finally, Cetera Investment Advisers bought a new stake in shares of Ballard Power Systems during the first quarter worth $33,000. 28.02% of the stock is currently owned by 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.