Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price shot up 11.7% during mid-day trading on Friday . The stock traded as high as $5.64 and last traded at $5.67. 4,639,332 shares changed hands during mid-day trading, an increase of 102% from the average session volume of 2,299,535 shares. The stock had previously closed at $5.07.
Several research firms have recently issued reports on BLDP. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ballard Power Systems in a report on Friday. Cowen and Company reaffirmed a “hold” rating on shares of Ballard Power Systems in a report on Friday. Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a report on Tuesday. Roth Capital set a $5.00 target price on Ballard Power Systems and gave the company a “hold” rating in a report on Wednesday. Finally, FBR & Co reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ballard Power Systems in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Ballard Power Systems has a consensus rating of “Hold” and an average price target of $5.40.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Ballard Power Systems had a negative return on equity of 4.37% and a negative net margin of 5.57%. The business had revenue of $31.90 million during the quarter, compared to analyst estimates of $28.33 million. During the same period in the prior year, the company earned ($0.02) earnings per share. Ballard Power Systems’s revenue was up 54.9% compared to the same quarter last year. research analysts predict that Ballard Power Systems, Inc. will post -0.05 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BLDP. Dynamic Technology Lab Private Ltd bought a new position in Ballard Power Systems during the second quarter valued at $105,000. First Manhattan Co. bought a new position in Ballard Power Systems during the third quarter valued at $126,000. Renaissance Technologies LLC grew its holdings in Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after purchasing an additional 137,200 shares during the period. KCG Holdings Inc. grew its holdings in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after purchasing an additional 140,603 shares during the period. Finally, First Trust Advisors LP grew its holdings in Ballard Power Systems by 16.9% during the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after purchasing an additional 26,314 shares during the period. 2.80% of the stock is owned by institutional investors and hedge funds.
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Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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