Ballard Power Systems (NASDAQ:BLDP) Upgraded at StockNews.com

StockNews.com upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a sell rating in a research report released on Friday morning.

A number of other research analysts have also recently commented on BLDP. Cibc World Mkts cut shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. TD Securities lowered Ballard Power Systems from a “hold” rating to a “sell” rating and cut their target price for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Citigroup cut their target price on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, Lake Street Capital lowered their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.89.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.62 on Friday. The business’s fifty day moving average price is $1.70 and its 200 day moving average price is $2.23. The stock has a market capitalization of $485.06 million, a P/E ratio of -2.57 and a beta of 1.78. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.52 and a twelve month high of $4.02.

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

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of Ballard Power Systems by 19.8% in the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after buying an additional 353,098 shares during the period. Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at $450,000. 3Chopt Investment Partners LLC bought a new stake in shares of Ballard Power Systems during the 2nd quarter worth $219,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ballard Power Systems during the second quarter worth $204,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ballard Power Systems during the second quarter valued at $154,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.