Ballard Power Systems (NASDAQ:BLDP) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a hold rating in a research report sent to investors on Sunday morning,Zacks.com reports.

Several other equities research analysts have also commented on the stock. HSBC dropped their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research note on Friday, March 14th. Citigroup reissued a “sell” rating and set a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Roth Mkm dropped their price objective on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Friday, March 14th. UBS Group dropped their price objective on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Finally, Susquehanna dropped their price objective on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.09.

Ballard Power Systems Trading Up 1.8%

Shares of BLDP opened at $1.67 on Friday. The firm’s 50-day moving average price is $1.28 and its 200-day moving average price is $1.40. The firm has a market capitalization of $500.75 million, a price-to-earnings ratio of -1.52 and a beta of 1.68. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $2.94.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $14.76 million for the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. Sell-side analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLDP. Portolan Capital Management LLC purchased a new position in Ballard Power Systems in the fourth quarter worth about $2,508,000. Millennium Management LLC raised its holdings in shares of Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after purchasing an additional 1,177,718 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after purchasing an additional 644,861 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.