Ballard Power Systems (NASDAQ:BLDP) Sees Large Volume Increase – Time to Buy?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) shares saw an uptick in trading volume on Tuesday . 6,714,604 shares traded hands during trading, an increase of 98% from the previous session’s volume of 3,384,746 shares.The stock last traded at $1.68 and had previously closed at $1.67.

Analyst Upgrades and Downgrades

BLDP has been the subject of several recent research reports. HSBC cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Susquehanna lowered their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, Citigroup cut their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Trading Down 0.3 %

The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.84. The firm has a market capitalization of $498.54 million, a PE ratio of -1.51 and a beta of 1.72.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently bought and sold shares of BLDP. Jane Street Group LLC raised its holdings in shares of Ballard Power Systems by 137.6% in the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after acquiring an additional 646,219 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Ballard Power Systems by 52.6% during the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock worth $1,727,000 after purchasing an additional 330,815 shares during the last quarter. DRW Securities LLC grew its holdings in shares of Ballard Power Systems by 2,097.1% during the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock worth $600,000 after buying an additional 318,151 shares in the last quarter. Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems in the second quarter valued at approximately $450,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock valued at $786,000 after buying an additional 193,658 shares during the period. 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.