Ballard Power Systems (NASDAQ:BLDP) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw strong trading volume on Monday . 6,065,564 shares changed hands during mid-day trading, an increase of 98% from the previous session’s volume of 3,067,036 shares.The stock last traded at $1.80 and had previously closed at $1.61.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BMO Capital Markets cut their price objective on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. HSBC lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. CIBC decreased their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, Raymond James decreased their price target on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. 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’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The stock has a market capitalization of $510.51 million, a price-to-earnings ratio of -1.55 and a beta of 1.72. The business has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BLDP. SG Americas Securities LLC boosted its position in shares of Ballard Power Systems by 84.3% during the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock worth $179,000 after buying an additional 36,368 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Ballard Power Systems during the second quarter worth about $94,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Ballard Power Systems by 18.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company’s stock valued at $240,000 after purchasing an additional 16,978 shares during the last quarter. Van ECK Associates Corp boosted its position 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 purchasing an additional 186,833 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.