Ballard Power Systems (NASDAQ:BLDP) Shares Up 8.9%

Shares of Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) shot up 8.9% during mid-day trading on Thursday . The stock traded as high as $16.47 and last traded at $16.45. 5,713,822 shares were traded during trading, an increase of 50% from the average session volume of 3,808,683 shares. The stock had previously closed at $15.10.

Several brokerages have issued reports on BLDP. Lake Street Capital lifted their price target on Ballard Power Systems from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. National Bank of Canada raised Ballard Power Systems to an “outperform” rating in a research note on Thursday, August 20th. Raymond James set a $28.00 target price on Ballard Power Systems and gave the company an “outperform” rating in a research note on Monday. Roth Capital boosted their target price on Ballard Power Systems from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, National Bank Financial raised Ballard Power Systems from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Thursday, August 20th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.66.

The company’s 50 day moving average price is $15.06 and its 200 day moving average price is $12.91. The company has a quick ratio of 3.92, a current ratio of 4.56 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -84.21 and a beta of 1.60.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). Ballard Power Systems had a negative return on equity of 16.53% and a negative net margin of 38.64%. The company had revenue of $25.82 million for the quarter, compared to analyst estimates of $27.22 million. As a group, analysts expect that Ballard Power Systems Inc will post -0.18 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Ballard Power Systems in the 2nd quarter valued at $30,000. Legal & General Group Plc lifted its stake in shares of Ballard Power Systems by 23.4% in the 1st quarter. Legal & General Group Plc now owns 6,339 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,202 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Ballard Power Systems in the 2nd quarter worth $67,000. Captrust Financial Advisors acquired a new stake in shares of Ballard Power Systems in the second quarter valued at about $96,000. Finally, Deutsche Bank AG lifted its stake in shares of Ballard Power Systems by 1,896.1% in the first quarter. Deutsche Bank AG now owns 12,775 shares of the technology company’s stock valued at $97,000 after purchasing an additional 12,135 shares during the period. Institutional investors and hedge funds own 8.34% of the company’s stock.

Ballard Power Systems Company Profile (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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