Ballard Power Systems (TSE:BLDP) Reaches New 52-Week Low – Here’s Why

Ballard Power Systems Inc. (TSE:BLDP)’s stock price hit a new 52-week low during trading on Friday. The company traded as low as C$1.87 and last traded at C$1.97, with a volume of 1,398,093 shares. The stock had previously closed at C$1.99.

Analyst Ratings Changes

Separately, National Bank Financial dropped their price objective on shares of Ballard Power Systems from C$4.75 to C$4.50 and set a “sector perform” rating for the company in a report on Thursday, August 6th. One analyst has rated the stock with a Hold rating. According to MarketBeat, Ballard Power Systems has an average rating of “Hold” and an average target price of C$4.50.

Ballard Power Systems Stock Performance

The firm has a market cap of C$702.18 million, a P/E ratio of -7.69, a price-to-earnings-growth ratio of -2,030.00 and a beta of 0.90. The company has a current ratio of 11.19, a quick ratio of 13.57 and a debt-to-equity ratio of 3.52. The business’s fifty day simple moving average is C$2.60 and its 200-day simple moving average is C$3.92.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.