Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Ballard Power Systems focuses on developing and bringing to market PEM fuel cell systems for transportation, stationary, and portable applications. Ballard now offers key subsystems and components that are based on technology developed in support of Ballard fuel cell products. Their focus is on further enhancing product performance, reducing costs, designing market-viable products, developing additional volume-manufacturing capabilities, and continuing to build customer and supplier relationships. “
BLDP has been the subject of a number of other research reports. Cowen reiterated a “hold” rating on shares of Ballard Power Systems in a research report on Friday, November 3rd. B. Riley set a $6.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a research report on Tuesday, November 14th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a research report on Friday, November 3rd. FBR & Co reiterated a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a research report on Friday, October 27th. Finally, Roth Capital set a $5.00 price objective on Ballard Power Systems and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Ballard Power Systems has an average rating of “Hold” and a consensus target price of $5.50.
Ballard Power Systems (NASDAQ BLDP) traded down $0.28 during trading on Wednesday, reaching $3.93. The company had a trading volume of 1,859,357 shares, compared to its average volume of 1,143,067. The stock has a market cap of $745.12, a PE ratio of -98.25 and a beta of 2.50. Ballard Power Systems has a 1 year low of $1.71 and a 1 year high of $5.93. The company has a current ratio of 2.70, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $31.90 million during the quarter, compared to analysts’ expectations of $28.33 million. Ballard Power Systems had a negative return on equity of 4.36% and a negative net margin of 5.57%. The firm’s quarterly revenue was up 54.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. equities research analysts predict that Ballard Power Systems will post -0.04 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of BLDP. First Trust Advisors LP grew its holdings in Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Ballard Power Systems in the 2nd quarter valued at about $105,000. First Manhattan Co. purchased a new stake in Ballard Power Systems in the 3rd quarter valued at about $126,000. Bluestein R H & Co. grew its holdings in Ballard Power Systems by 11.2% in the 3rd quarter. Bluestein R H & Co. now owns 233,000 shares of the technology company’s stock valued at $1,090,000 after buying an additional 23,500 shares during the period. Finally, PEAK6 Investments L.P. grew its holdings in Ballard Power Systems by 556.3% in the 3rd quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock valued at $1,015,000 after buying an additional 183,921 shares during the period. Institutional investors own 3.06% of the company’s stock.
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Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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