Ballard Power Systems (NASDAQ:BLDP) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.40 and traded as high as $1.79. Ballard Power Systems shares last traded at $1.75, with a volume of 8,645,218 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLDP. Citigroup reaffirmed a “sell” rating and set a $1.00 price objective (down from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. UBS Group lowered their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating on the stock in a report on Monday, May 12th. Susquehanna lowered their target price on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating on the stock in a report on Monday, April 14th. HSBC lowered their target price on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a report on Friday, March 14th. Finally, Raymond James Financial lowered their target price on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and a consensus target price of $2.09.

Ballard Power Systems Stock Performance

The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $523.84 million, a PE ratio of -1.71 and a beta of 1.71. The stock’s fifty day simple moving average is $1.43 and its 200-day simple moving average is $1.40.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. The company had revenue of $14.76 million during the quarter, compared to analysts’ expectations of $16.82 million. On average, research analysts predict that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLDP. Portolan Capital Management LLC purchased a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $2,508,000. Millennium Management LLC increased its stake in shares of Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after purchasing an additional 1,177,718 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares in the last quarter. Two Sigma Investments LP boosted its position in Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after acquiring an additional 661,413 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock worth $1,635,000 after acquiring an additional 534,834 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.