Cormark Reiterates Market Perform Rating for Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “market perform” rating restated by Cormark in a research report issued to clients and investors on Monday, Benzinga reports.

BLDP has been the subject of a number of other reports. Susquehanna decreased their price target on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Lake Street Capital decreased their target price on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company dropped their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $2.50 to $1.50 in a report on Monday, August 12th. Finally, Cibc World Mkts lowered shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.11.

Ballard Power Systems Price Performance

BLDP opened at $1.70 on Monday. The company has a 50 day moving average of $2.01 and a two-hundred day moving average of $2.53. Ballard Power Systems has a 52-week low of $1.61 and a 52-week high of $4.23. 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 company has a market cap of $508.97 million, a P/E ratio of -2.74 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several large investors have recently made changes to their positions in BLDP. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $28,000. Tidal Investments LLC bought a new position in shares of Ballard Power Systems in the first quarter valued at approximately $39,000. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems in the second quarter worth $52,000. Daiwa Securities Group Inc. boosted its holdings in shares of Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after buying an additional 14,415 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Ballard Power Systems during the 1st quarter worth $59,000. Institutional investors 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.