Raymond James upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from an outperform rating to a strong-buy rating in a research report report published on Monday morning, Analyst Ratings Network reports. The brokerage currently has $40.00 target price on the technology company’s stock, up from their previous target price of $28.00.
Several other research analysts have also issued reports on BLDP. HC Wainwright lowered Ballard Power Systems from a buy rating to a neutral rating in a research report on Tuesday, November 10th. ValuEngine lowered Ballard Power Systems from a buy rating to a hold rating in a research report on Tuesday, December 1st. Zacks Investment Research lowered Ballard Power Systems from a hold rating to a sell rating in a research report on Thursday, November 12th. National Bank Financial reiterated an outperform rating and set a $25.00 target price on shares of Ballard Power Systems in a research note on Wednesday, December 2nd. Finally, BidaskClub upgraded Ballard Power Systems from a hold rating to a buy rating in a research note on Saturday, January 9th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $25.88.
Shares of NASDAQ:BLDP opened at $36.58 on Monday. Ballard Power Systems has a 52-week low of $6.95 and a 52-week high of $38.00. The firm has a market capitalization of $10.23 billion, a P/E ratio of -182.88 and a beta of 1.74. The stock has a 50 day moving average price of $22.31 and a 200-day moving average price of $17.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.36 and a current ratio of 9.10.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Thursday, November 5th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Ballard Power Systems had a negative return on equity of 14.00% and a negative net margin of 40.04%. The firm had revenue of $25.62 million during the quarter, compared to analyst estimates of $28.06 million. On average, equities analysts forecast that Ballard Power Systems will post -0.19 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $30,000. Private Advisor Group LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $67,000. Captrust Financial Advisors purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $96,000. Ecofin Advisors Ltd purchased a new position in shares of Ballard Power Systems in the 3rd quarter worth $92,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $129,000. Hedge funds and other institutional investors own 18.38% 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 fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products.
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