Ballard Power Systems (NASDAQ:BLDP) Upgraded at Zacks Research

Zacks Research upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research report on Wednesday, May 6th. ATB Cormark Capital Markets lifted their price target on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. TD Cowen upped their price objective on shares of Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Finally, Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.52.

Ballard Power Systems Price Performance

Shares of BLDP opened at $2.90 on Wednesday. Ballard Power Systems has a 52-week low of $1.70 and a 52-week high of $6.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. The business’s 50 day moving average price is $4.22 and its two-hundred day moving average price is $3.23. The firm has a market cap of $874.29 million, a PE ratio of -10.74 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $19.88 million. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%. On average, equities analysts anticipate that Ballard Power Systems will post -0.16 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. bought a new stake in Ballard Power Systems during the 1st quarter valued at $59,000. J. Derek Lewis & Associates Inc. lifted its stake in shares of Ballard Power Systems by 10.9% in the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock valued at $123,000 after buying an additional 5,000 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Ballard Power Systems by 72.5% during the first quarter. Bank of America Corp DE now owns 575,907 shares of the technology company’s stock valued at $1,394,000 after buying an additional 242,132 shares during the last quarter. Amundi grew its holdings in shares of Ballard Power Systems by 23.8% during the first quarter. Amundi now owns 256,544 shares of the technology company’s stock valued at $621,000 after buying an additional 49,248 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Ballard Power Systems by 94.0% during the first quarter. Royal Bank of Canada now owns 637,068 shares of the technology company’s stock worth $1,542,000 after acquiring an additional 308,742 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Key Headlines Impacting Ballard Power Systems

Here are the key news stories impacting Ballard Power Systems this week:

• Positive Sentiment: Zacks Research upgraded Ballard Power Systems from hold to strong-buy, signaling improved near-term sentiment from a well-followed quantitative research provider.
• Positive Sentiment: Zacks also highlighted BLDP as a stock that could beat upcoming earnings estimates, which can increase speculation ahead of the company’s report. Article: Ballard Power Systems (BLDP) Expected to Beat Earnings Estimates: Should You Buy?
• Positive Sentiment: Ballard Power Systems was added to Zacks’ Rank #1 (Strong Buy) momentum list, suggesting the stock has shown enough trading strength and earnings revision momentum to attract buyers.
• Positive Sentiment: The company was also listed among new Strong Buy stocks for July 23, reinforcing the idea that recent sentiment has shifted more favorably.
• Neutral Sentiment: Ballard Power Systems is projected to report earnings on Friday, keeping the stock in focus as investors wait for results and guidance.
• Neutral Sentiment: Short interest data showed 0 shares reported as of July 24, which makes the release largely uninformative for trading sentiment.
• Negative Sentiment: Despite the recent upgrades, another report said the average analyst rating remains “Reduce,” indicating Wall Street’s broader stance is still cautious. Article: Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Average Rating of “Reduce” from Analysts

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.