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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research report issued on Friday.

Several other brokerages also recently commented on BLDP. Susquehanna reduced their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. CIBC reissued an “underperformer” rating and set a $1.60 target price (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Truist Financial reduced their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Lake Street Capital decreased their target price on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, BMO Capital Markets decreased their target price on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus price target of $2.89.

Ballard Power Systems Stock Up 2.5 %

Shares of NASDAQ BLDP opened at $1.62 on Friday. The company’s 50 day moving average price is $1.70 and its 200-day moving average price is $2.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. Ballard Power Systems has a 52-week low of $1.52 and a 52-week high of $4.02. The company has a market capitalization of $485.06 million, a P/E ratio of -2.57 and a beta of 1.78.

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

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after buying an additional 186,833 shares during the period. TD Asset Management Inc increased its position in shares of Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after acquiring an additional 8,154 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Ballard Power Systems by 7.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after acquiring an additional 38,662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ballard Power Systems by 12.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock valued at $535,000 after acquiring an additional 32,909 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Ballard Power Systems by 4.1% during the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after purchasing an additional 8,549 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.