Ballard Power Systems (NASDAQ:BLDP) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently commented on BLDP. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective for the company in a research report on Monday, August 3rd. UBS Group decreased their target price on shares of Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Thursday. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a research note on Tuesday, August 4th. Finally, National Bank Financial set a $4.75 target price on Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Reduce” and a consensus target price of $3.30.

Ballard Power Systems Stock Down 6.0%

BLDP stock opened at $1.57 on Friday. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12-month low of $1.55 and a 12-month high of $6.57. The company has a 50 day moving average of $2.21 and a two-hundred day moving average of $3.19. The company has a market cap of $551.56 million, a price-to-earnings ratio of -6.04 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its 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 business had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. On average, equities analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in shares of Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares in the last quarter. Ground Swell Capital LLC acquired a new position in Ballard Power Systems during the first quarter valued at approximately $26,000. Cetera Investment Advisers bought a new position in shares of Ballard Power Systems in the first quarter valued at $33,000. Caitong International Asset Management Co. Ltd grew its position in shares of Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after acquiring an additional 12,149 shares during the period. Finally, Farringdon Capital Ltd. bought a new position in Ballard Power Systems during the second quarter worth about $41,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.