Stock Traders Buy High Volume of Put Options on Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was the target of some unusual options trading on Monday. Stock investors purchased 35,723 put options on the stock. This is an increase of approximately 803% compared to the average daily volume of 3,958 put options.

Shares of NASDAQ:BLDP opened at $15.06 on Tuesday. The company has a quick ratio of 23.08, a current ratio of 23.77 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a fifty-two week low of $12.80 and a fifty-two week high of $42.28. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of -65.48 and a beta of 1.40. The firm’s 50 day moving average price is $15.80 and its 200 day moving average price is $18.30.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Thursday, August 5th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). Ballard Power Systems had a negative return on equity of 6.23% and a negative net margin of 68.18%. The business had revenue of $24.96 million for the quarter, compared to analyst estimates of $20.64 million. On average, equities analysts anticipate that Ballard Power Systems will post -0.25 EPS for the current year.

A number of large investors have recently made changes to their positions in BLDP. Legal & General Group Plc increased its position in Ballard Power Systems by 98.1% during the 2nd quarter. Legal & General Group Plc now owns 1,593,835 shares of the technology company’s stock worth $32,926,000 after purchasing an additional 789,438 shares during the period. Neuberger Berman Group LLC purchased a new stake in shares of Ballard Power Systems in the second quarter valued at approximately $14,089,000. Renaissance Technologies LLC acquired a new position in Ballard Power Systems during the second quarter worth $13,395,000. Morgan Stanley lifted its holdings in Ballard Power Systems by 41.2% in the second quarter. Morgan Stanley now owns 2,303,886 shares of the technology company’s stock valued at $41,747,000 after acquiring an additional 672,447 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of Ballard Power Systems by 36.2% during the 1st quarter. Alps Advisors Inc. now owns 2,178,454 shares of the technology company’s stock worth $53,024,000 after purchasing an additional 578,540 shares in the last quarter. Hedge funds and other institutional investors own 24.03% of the company’s stock.

BLDP has been the topic of several analyst reports. National Bankshares dropped their target price on Ballard Power Systems from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, August 9th. Zacks Investment Research lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Friday, July 16th. COKER & PALMER restated a “sector underperform” rating on shares of Ballard Power Systems in a research report on Tuesday, July 13th. National Bank Financial dropped their target price on shares of Ballard Power Systems from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, August 9th. Finally, Eight Capital reissued a “hold” rating and set a C$18.00 target price on shares of Ballard Power Systems in a report on Tuesday, September 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.07.

About Ballard Power Systems

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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