Ballard Power Systems (NASDAQ:BLDP) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Ballard Power Systems focuses on developing and bringing to market PEM fuel cell systems for transportation, stationary, and portable applications. Ballard now offers key subsystems and components that are based on technology developed in support of Ballard fuel cell products. Their focus is on further enhancing product performance, reducing costs, designing market-viable products, developing additional volume-manufacturing capabilities, and continuing to build customer and supplier relationships. “

Several other analysts also recently weighed in on the stock. Susquehanna boosted their price target on shares of Ballard Power Systems from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Thursday, March 10th. Truist Financial lowered their price target on shares of Ballard Power Systems from $18.00 to $13.00 and set a hold rating for the company in a research note on Monday, January 24th. Susquehanna Bancshares upped their price objective on shares of Ballard Power Systems from $10.00 to $11.00 and gave the company a neutral rating in a research note on Thursday, March 10th. Raymond James lowered their price objective on shares of Ballard Power Systems from $14.00 to $9.00 and set an outperform rating for the company in a research note on Tuesday, May 10th. Finally, TD Securities lowered their price objective on shares of Ballard Power Systems from $20.00 to $17.00 and set a speculative buy rating for the company in a research note on Tuesday, March 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $13.36.

Ballard Power Systems stock opened at $6.59 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.36 and a quick ratio of 14.61. The firm has a fifty day simple moving average of $10.02 and a two-hundred day simple moving average of $11.69. Ballard Power Systems has a twelve month low of $5.80 and a twelve month high of $19.66.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last posted its quarterly earnings results on Monday, May 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $24.88 million. Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, research analysts anticipate that Ballard Power Systems will post -0.53 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. grew its holdings in Ballard Power Systems by 10,023.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 3,037 shares of the technology company’s stock worth $38,000 after purchasing an additional 3,007 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Ballard Power Systems by 81.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,791 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,700 shares during the period. Millburn Ridgefield Corp grew its holdings in Ballard Power Systems by 238.0% in the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock worth $52,000 after purchasing an additional 3,116 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Ballard Power Systems by 238.0% in the first quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock worth $52,000 after purchasing an additional 3,116 shares during the period. Finally, Retirement Planning Co of New England Inc. purchased a new stake in Ballard Power Systems in the fourth quarter worth about $58,000. Institutional investors and hedge funds own 35.47% of the company’s stock.

About Ballard Power Systems (Get Rating)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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