Ballard Power Systems (NASDAQ:BLDP) Sets New 12-Month Low at $2.22

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price reached a new 52-week low on Monday . The company traded as low as $2.22 and last traded at $2.23, with a volume of 990876 shares changing hands. The stock had previously closed at $2.25.

Analyst Upgrades and Downgrades

BLDP has been the subject of a number of analyst reports. National Bankshares cut their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 8th. Truist Financial reaffirmed a “hold” rating and set a $3.00 price target (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday, May 8th. Jefferies Financial Group dropped their price target on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Piper Sandler dropped their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Finally, CIBC dropped their price target on shares of Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and an average price target of $3.49.

Ballard Power Systems Stock Up 5.5 %

The firm has a market capitalization of $685.60 million, a PE ratio of -3.74 and a beta of 1.77. The firm’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $3.04. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same quarter last year, the company earned ($0.11) earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Ballard Power Systems Inc. will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ballard Power Systems by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after acquiring an additional 89,643 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Ballard Power Systems during the fourth quarter worth $192,000. Jump Financial LLC acquired a new stake in shares of Ballard Power Systems during the fourth quarter worth $1,086,000. CIBC Asset Management Inc raised its holdings in shares of Ballard Power Systems by 2.9% during the fourth quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock worth $925,000 after purchasing an additional 7,060 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Ballard Power Systems by 1.7% during the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after purchasing an additional 148,321 shares during the period. 28.02% of the stock is currently 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.