Ballard Power Systems (NASDAQ:BLDP) Trading Up 3.7% – Time to Buy?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price was up 3.7% during mid-day trading on Monday . The stock traded as high as $1.70 and last traded at $1.68. Approximately 1,318,174 shares traded hands during trading, a decline of 60% from the average daily volume of 3,269,669 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Susquehanna lowered their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Citigroup decreased their target price on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, Hsbc Global Res cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Price Performance

The firm has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.88. The stock has a market cap of $505.99 million, a P/E ratio of -1.54 and a beta of 1.72. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BLDP. Van ECK Associates Corp boosted its stake in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after buying an additional 186,833 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after acquiring an additional 646,219 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Ballard Power Systems by 52.6% in the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after purchasing an additional 330,815 shares in the last quarter. TD Asset Management Inc increased its position in Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after purchasing an additional 8,154 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock valued at $786,000 after purchasing an additional 193,658 shares in the last quarter. Institutional investors 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.