Ballard Power Systems (NASDAQ:BLDP) Stock Rating Lowered by Wall Street Zen

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently commented on BLDP. Susquehanna dropped their target price on Ballard Power Systems from $4.25 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, July 10th. TD Cowen upped their price target on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their price target on Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. ATB Cormark Capital Markets increased their price target on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.54.

Ballard Power Systems Stock Performance

BLDP opened at $2.62 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The firm has a fifty day moving average price of $3.67 and a 200 day moving average price of $3.23. Ballard Power Systems has a 1 year low of $1.70 and a 1 year high of $6.57. The stock has a market cap of $789.95 million, a P/E ratio of -10.08 and a beta of 2.29.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to analysts’ expectations of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. Equities research analysts anticipate that Ballard Power Systems will post -0.19 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. raised its position in Ballard Power Systems by 10.9% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock valued at $123,000 after purchasing an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after buying an additional 6,952 shares during the period. Amundi grew its position in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after buying an additional 9,454 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Ballard Power Systems by 27.7% during the fourth quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock worth $118,000 after buying an additional 10,000 shares in the last quarter. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of Ballard Power Systems during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.