Ballard Power Systems (NASDAQ:BLDP) Stock Rating Upgraded by StockNews.com

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued on Friday.

BLDP has been the topic of a number of other research reports. Citigroup cut their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. National Bankshares cut their target price on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Lake Street Capital reduced their price target on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets decreased their target price on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Cibc World Mkts lowered Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and an average price target of $2.89.

Ballard Power Systems Stock Up 2.5 %

NASDAQ:BLDP opened at $1.62 on Friday. Ballard Power Systems has a 12-month low of $1.52 and a 12-month high of $4.02. The stock’s fifty day simple moving average is $1.70 and its 200-day simple moving average is $2.24. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $485.06 million, a P/E ratio of -2.57 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted ($0.10) EPS. Equities research analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc raised its holdings in Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares during the last quarter. BNP Paribas Financial Markets increased its position in Ballard Power Systems by 4.1% in the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after acquiring an additional 8,549 shares during the period. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems during the first quarter valued at $28,000. Tidal Investments LLC acquired a new position in shares of Ballard Power Systems during the first quarter worth $39,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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.