Stock Traders Purchase Large Volume of Ballard Power Systems Put Options (NASDAQ:BLDP)

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Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) saw unusually large options trading on Thursday. Investors acquired 1,156 put options on the stock. This is an increase of approximately 1,080% compared to the average volume of 98 put options.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank raised its position in Ballard Power Systems by 17.3% in the 2nd quarter. Toronto Dominion Bank now owns 38,386 shares of the technology company’s stock valued at $157,000 after purchasing an additional 5,649 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Ballard Power Systems in the 2nd quarter valued at $116,000. First Trust Advisors LP raised its position in Ballard Power Systems by 3.8% in the 1st quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock valued at $679,000 after purchasing an additional 8,275 shares during the last quarter. Jane Street Group LLC bought a new position in Ballard Power Systems in the 2nd quarter valued at $41,000. Finally, Royal Bank of Canada raised its position in Ballard Power Systems by 9.2% in the 2nd quarter. Royal Bank of Canada now owns 201,214 shares of the technology company’s stock valued at $822,000 after purchasing an additional 16,969 shares during the last quarter. Hedge funds and other institutional investors own 2.97% of the company’s stock.

Several brokerages have recently weighed in on BLDP. ValuEngine lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital lowered Ballard Power Systems from a “neutral” rating to a “sell” rating and set a $3.00 price objective on the stock. in a report on Monday, July 1st. They noted that the move was a valuation call. BidaskClub lowered Ballard Power Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 26th. Finally, Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.90.

BLDP stock traded down $0.01 during trading on Friday, hitting $5.10. The company had a trading volume of 1,453,421 shares, compared to its average volume of 1,523,362. The company has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $4.08. The company has a current ratio of 4.40, a quick ratio of 3.85 and a debt-to-equity ratio of 0.07. Ballard Power Systems has a fifty-two week low of $2.25 and a fifty-two week high of $5.72. The company has a market cap of $1.17 billion, a P/E ratio of -39.23 and a beta of 1.74.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Ballard Power Systems had a negative return on equity of 13.15% and a negative net margin of 40.67%. The firm had revenue of $23.70 million during the quarter, compared to the consensus estimate of $22.42 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, analysts expect that Ballard Power Systems will post -0.13 earnings per share for the current year.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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