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

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

Several other equities analysts also recently issued reports on the stock. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Cibc World Mkts cut shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Truist Financial dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $2.89.

Ballard Power Systems Trading Up 2.5 %

Shares of NASDAQ BLDP traded up $0.04 during trading on Friday, reaching $1.62. The stock had a trading volume of 4,022,991 shares, compared to its average volume of 2,840,161. The business’s 50-day moving average price is $1.70 and its 200-day moving average price is $2.24. Ballard Power Systems has a fifty-two week low of $1.52 and a fifty-two week high of $4.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The company has a market cap 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 posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $19.36 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

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