Ballard Power Systems (NASDAQ:BLDP) Trading Down 3% – What’s Next?

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) fell 3% during trading on Friday . The company traded as low as $1.78 and last traded at $1.79. 1,291,937 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 8,578,950 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

Several research analysts recently issued reports on BLDP shares. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Susquehanna cut their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Price Performance

The stock has a fifty day moving average of $1.53 and a 200-day moving average of $1.83. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $559.95 million, a P/E ratio of -1.70 and a beta of 1.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BLDP. First Commonwealth Financial Corp PA acquired a new position in shares of Ballard Power Systems in the third quarter valued at approximately $27,000. Toronto Dominion Bank raised its position in shares of Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after buying an additional 20,949 shares in the last quarter. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at $52,000. Daiwa Securities Group Inc. increased its holdings in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Ballard Power Systems during the second quarter valued at approximately $79,000. Institutional investors and hedge funds 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.