Ballard Power Systems (NASDAQ:BLDP) Raised to Hold at TD Securities

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by research analysts at TD Securities from a “sell” rating to a “hold” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a $2.50 price target on the technology company’s stock. TD Securities’ price objective would suggest a potential downside of 9.42% from the stock’s current price.

Several other equities analysts also recently weighed in on BLDP. Zacks Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research note on Friday, November 14th. Roth Capital restated a “neutral” rating and issued a $3.00 price objective on shares of Ballard Power Systems in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Finally, TD Cowen cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Friday. Fourteen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $2.23.

Ballard Power Systems Trading Up 1.1%

BLDP opened at $2.76 on Friday. The stock has a market capitalization of $830.04 million, a PE ratio of -6.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.53 and a current ratio of 8.33. Ballard Power Systems has a one year low of $1.00 and a one year high of $4.10. The business’s 50 day moving average price is $2.86 and its 200 day moving average price is $2.54.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. The business had revenue of $32.66 million for the quarter, compared to the consensus estimate of $23.76 million. As a group, equities research analysts expect that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. SBI Securities Co. Ltd. lifted its position in Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after acquiring an additional 13,094 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Ballard Power Systems in the 3rd quarter valued at about $43,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after purchasing an additional 5,482 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Ballard Power Systems by 108.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after purchasing an additional 19,170 shares during the period. Finally, Amundi grew its stake in Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after buying an additional 9,454 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.