Ballard Power Systems (NASDAQ:BLDP) Upgraded to “Strong-Buy” at Zacks Research

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts have also commented on the stock. HSBC set a $3.40 target price on shares of Ballard Power Systems in a research note on Thursday, October 9th. Wells Fargo & Company increased their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Susquehanna increased their target price on shares of Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a research note on Monday. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Ballard Power Systems has an average rating of “Reduce” and a consensus price target of $1.81.

Ballard Power Systems Trading Down 5.5%

Shares of NASDAQ:BLDP opened at $3.76 on Tuesday. The company has a 50 day moving average of $2.46 and a 200-day moving average of $1.82. The firm has a market cap of $1.13 billion, a P/E ratio of -3.80 and a beta of 1.80. Ballard Power Systems has a twelve month low of $1.00 and a twelve month high of $4.10. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The company had revenue of $17.98 million during the quarter, compared to analyst estimates of $17.94 million. As a group, analysts anticipate that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently made changes to their positions in BLDP. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ballard Power Systems by 39.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company’s stock valued at $440,000 after acquiring an additional 108,364 shares during the period. Penserra Capital Management LLC increased its stake in Ballard Power Systems by 10.6% in the 1st quarter. Penserra Capital Management LLC now owns 1,099,554 shares of the technology company’s stock valued at $1,209,000 after buying an additional 105,153 shares during the period. Alps Advisors Inc. increased its stake in Ballard Power Systems by 2.1% in the 1st quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company’s stock valued at $437,000 after buying an additional 8,265 shares during the period. Mackenzie Financial Corp increased its stake in Ballard Power Systems by 8.5% in the 1st quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company’s stock valued at $136,000 after buying an additional 9,626 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Ballard Power Systems in the 1st quarter valued at approximately $171,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.