Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up – What’s Next?

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) gapped up prior to trading on Monday . The stock had previously closed at $1.92, but opened at $2.04. Ballard Power Systems shares last traded at $1.98, with a volume of 1,134,258 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. CIBC reduced their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research report on Wednesday, December 4th. Citigroup reduced their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Susquehanna reduced their price target 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. StockNews.com raised Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and an average target price of $2.77.

Ballard Power Systems Stock Up 3.1 %

The business has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.82. The firm has a market cap of $592.85 million, a price-to-earnings ratio of -1.80 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. Jane Street Group LLC raised its holdings in shares of Ballard Power Systems by 137.6% during 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 acquiring an additional 646,219 shares during the last quarter. Penserra Capital Management LLC increased its stake in Ballard Power Systems by 52.6% during the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock worth $1,727,000 after acquiring an additional 330,815 shares during the last quarter. DRW Securities LLC increased its stake in Ballard Power Systems by 2,097.1% during the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock worth $600,000 after acquiring an additional 318,151 shares during the last quarter. Decade Renewable Partners LP acquired a new stake in Ballard Power Systems during the second quarter worth $450,000. Finally, BNP Paribas Financial Markets increased its stake in Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock worth $786,000 after acquiring an additional 193,658 shares during the last quarter. 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.