Ballard Power Systems (NASDAQ:BLDP) Trading Up 10.2% – Should You Buy?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s share price traded up 10.2% on Thursday . The stock traded as high as $1.83 and last traded at $1.83. 2,510,449 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 3,402,973 shares. The stock had previously closed at $1.66.

Analyst Ratings Changes

BLDP has been the topic of several research reports. Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. CIBC lowered their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, Susquehanna decreased their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.77.

Ballard Power Systems Stock Up 12.1 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The firm’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.83. The company has a market capitalization of $557.13 million, a price-to-earnings ratio of -1.69 and a beta of 1.72.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Commonwealth Financial Corp PA bought a new stake in shares of Ballard Power Systems in the 3rd quarter valued at approximately $27,000. Toronto Dominion Bank grew its position in Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares during the period. Scientech Research LLC acquired a new stake in Ballard Power Systems during the 2nd quarter valued at $52,000. Daiwa Securities Group Inc. boosted its stake in Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Ballard Power Systems during the second quarter worth $79,000. Institutional investors 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.