Ballard Power Systems (NASDAQ:BLDP) Trading Down 3.4%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) shares were down 3.4% during trading on Thursday . The stock traded as low as $1.68 and last traded at $1.69. Approximately 136,679 shares were traded during trading, a decline of 95% from the average daily volume of 2,749,932 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

BLDP has been the subject of several analyst reports. CIBC reaffirmed an “underperformer” rating and set a $1.60 price objective (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Jefferies Financial Group cut their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company lowered their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Susquehanna dropped their price objective 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. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The firm has a 50 day simple moving average of $2.04 and a two-hundred day simple moving average of $2.56.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. Ballard Power Systems’s revenue was up 4.6% on a year-over-year basis. As a group, analysts predict that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Jump Financial LLC purchased a new stake in Ballard Power Systems in the fourth quarter worth about $1,086,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ballard Power Systems by 16.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471,281 shares of the technology company’s stock worth $1,678,000 after buying an additional 66,976 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ballard Power Systems by 75.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock worth $90,000 after acquiring an additional 10,484 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ballard Power Systems in the 4th quarter worth about $192,000. Finally, TD Asset Management Inc lifted its holdings in shares of Ballard Power Systems by 3.7% in the 4th quarter. TD Asset Management Inc now owns 680,378 shares of the technology company’s stock worth $2,533,000 after acquiring an additional 24,287 shares during the last quarter. 28.02% of the stock is currently owned by hedge funds and other 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.