Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a report issued on Thursday.
A number of other equities research analysts have also commented on the stock. HC Wainwright set a $6.00 price target on shares of Ballard Power Systems and gave the company a “buy” rating in a report on Friday, August 3rd. B. Riley set a $5.00 price target on shares of Ballard Power Systems and gave the company a “buy” rating in a report on Friday, August 3rd. BidaskClub raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. ValuEngine raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Finally, Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.75.
NASDAQ:BLDP traded down $0.06 during midday trading on Thursday, reaching $3.64. 1,055,875 shares of the stock traded hands, compared to its average volume of 1,283,950. Ballard Power Systems has a 12 month low of $2.57 and a 12 month high of $5.93. The company has a quick ratio of 1.83, a current ratio of 2.64 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $768.87 million, a P/E ratio of -121.33 and a beta of 1.60.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. Ballard Power Systems had a negative net margin of 11.58% and a negative return on equity of 9.99%. The company had revenue of $26.45 million during the quarter, compared to analyst estimates of $23.33 million. As a group, analysts anticipate that Ballard Power Systems will post -0.07 EPS for the current year.
Several large investors have recently added to or reduced their stakes in BLDP. Global X Management Co LLC purchased a new stake in Ballard Power Systems during the 2nd quarter valued at about $231,000. Commerzbank Aktiengesellschaft FI grew its position in Ballard Power Systems by 49.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after purchasing an additional 30,694 shares during the last quarter. Royal Bank of Canada grew its position in Ballard Power Systems by 38.8% during the 1st quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after purchasing an additional 39,370 shares during the last quarter. Finally, Herald Investment Management Ltd grew its position in Ballard Power Systems by 102.5% during the 2nd quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 324,000 shares during the last quarter. 3.78% of the stock is currently owned by hedge funds and other institutional investors.
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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.
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