Ballard Power Systems (NASDAQ:BLDP) Sets New 52-Week Low at $2.22

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) reached a new 52-week low during trading on Monday . The stock 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

A number of brokerages have weighed in on BLDP. Raymond James reduced their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. National Bankshares reduced their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company lowered their target price on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, May 9th. TD Securities raised their target price on Ballard Power Systems from $2.50 to $2.75 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, HSBC decreased their price target on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.49.

Ballard Power Systems Trading Down 1.3 %

The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $2.80 and its two-hundred day moving average is $3.06. The stock has a market cap of $664.65 million, a price-to-earnings ratio of -3.63 and a beta of 1.77.

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

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently made changes to their positions in BLDP. Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems in the first quarter worth $59,000. Tidal Investments LLC purchased a new stake in Ballard Power Systems during the first quarter valued at about $39,000. Toronto Dominion Bank raised its stake in Ballard Power Systems by 182.8% during the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock valued at $96,000 after purchasing an additional 22,273 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Ballard Power Systems by 7.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock worth $1,572,000 after acquiring an additional 38,662 shares during the period. Finally, Endowment Wealth Management Inc. purchased a new position in Ballard Power Systems during the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.