Ballard Power Systems (NASDAQ:BLDP) Sets New 12-Month High at $11.32

Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) shares reached a new 52-week high on Thursday . The stock traded as high as $11.32 and last traded at $10.77, with a volume of 791717 shares trading hands. The stock had previously closed at $10.62.

Several research firms have weighed in on BLDP. BidaskClub upgraded shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. ValuEngine cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Lake Street Capital raised their price objective on shares of Ballard Power Systems from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. HC Wainwright restated a “hold” rating on shares of Ballard Power Systems in a research report on Tuesday, December 17th. Finally, Zacks Investment Research upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company’s stock. Ballard Power Systems presently has an average rating of “Hold” and a consensus target price of $5.08.

The company’s 50-day moving average is $7.26 and its two-hundred day moving average is $5.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.32. The firm has a market cap of $2.48 billion, a P/E ratio of -83.46 and a beta of 1.88.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Wednesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $24.79 million for the quarter, compared to analyst estimates of $25.60 million. Ballard Power Systems had a negative net margin of 43.31% and a negative return on equity of 12.74%. On average, analysts expect that Ballard Power Systems Inc will post -0.16 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in BLDP. Virtu Financial LLC grew its position in Ballard Power Systems by 75.5% in the 3rd quarter. Virtu Financial LLC now owns 40,748 shares of the technology company’s stock valued at $199,000 after purchasing an additional 17,525 shares during the period. State Street Corp lifted its stake in Ballard Power Systems by 47.9% during the 3rd quarter. State Street Corp now owns 76,767 shares of the technology company’s stock valued at $375,000 after acquiring an additional 24,846 shares in the last quarter. Alps Advisors Inc. lifted its stake in Ballard Power Systems by 27.7% during the 3rd quarter. Alps Advisors Inc. now owns 322,610 shares of the technology company’s stock valued at $1,578,000 after acquiring an additional 70,067 shares in the last quarter. First Trust Advisors LP lifted its stake in Ballard Power Systems by 1.1% during the 3rd quarter. First Trust Advisors LP now owns 227,624 shares of the technology company’s stock valued at $1,113,000 after acquiring an additional 2,587 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Ballard Power Systems during the 3rd quarter valued at $467,000. 4.35% of the stock is owned by institutional investors.

About Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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