Ballard Power Systems (NASDAQ:BLDP) Shares Down 3% – Should You Sell?

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BLDP shares. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Susquehanna cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Citigroup decreased their price objective 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 cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Stock Up 4.3 %

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 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.82. The stock has a market cap of $574.89 million, a P/E ratio of -1.75 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 the stock. Jane Street Group LLC grew its position in shares of Ballard Power Systems by 137.6% in the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after purchasing an additional 646,219 shares during the last quarter. XTX Topco Ltd grew its holdings in Ballard Power Systems by 29.0% in the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock valued at $159,000 after buying an additional 19,856 shares in the last quarter. Decade Renewable Partners LP bought a new position in Ballard Power Systems during the 2nd quarter worth $450,000. TD Asset Management Inc lifted its holdings in shares of 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 worth $1,599,000 after buying an additional 8,154 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Ballard Power Systems by 17.1% in the third quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock valued at $477,000 after acquiring an additional 38,616 shares during the period. Institutional investors and hedge funds 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.