Ballard Power Systems (NASDAQ:BLDP) Hits New 52-Week Low at $1.76

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.76 and last traded at $1.77, with a volume of 1554872 shares changing hands. The stock had previously closed at $1.84.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of 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. HSBC reduced their price objective on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their price target for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, Susquehanna lowered their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a report 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.11.

Ballard Power Systems Trading Down 2.3 %

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 company’s 50 day moving average is $2.11 and its 200 day moving average is $2.62. The stock has a market capitalization of $500.01 million, a price-to-earnings ratio of -2.73 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating 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 business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts forecast that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Ballard Power Systems by 19.8% in the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after purchasing an additional 353,098 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $1,086,000. Rafferty Asset Management LLC lifted its holdings in shares of Ballard Power Systems by 49.5% during the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after acquiring an additional 236,449 shares during the period. Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at about $450,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Ballard Power Systems by 25.0% during the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 100,700 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.