Ballard Power Systems (NASDAQ:BLDP) Downgraded to Hold Rating by Zacks Research

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Susquehanna boosted 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, October 13th. BMO Capital Markets increased their target price on Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a research report on Tuesday, August 12th. Roth Capital boosted their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Ten investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.00.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $3.19 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.32 and a current ratio of 9.31. The stock has a market capitalization of $958.86 million, a price-to-earnings ratio of -3.22 and a beta of 1.84. Ballard Power Systems has a one year low of $1.00 and a one year high of $4.10. The company’s 50-day simple moving average is $3.11 and its 200-day simple moving average is $2.16.

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, beating analysts’ consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The business had revenue of $17.98 million during the quarter, compared to the consensus estimate of $17.94 million. Equities analysts anticipate that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

A number of large investors have recently added to or reduced their stakes in BLDP. Goldman Sachs Group Inc. increased its position in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after acquiring an additional 829,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ballard Power Systems by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after purchasing an additional 285,317 shares during the period. Graham Capital Management L.P. raised its stake in Ballard Power Systems by 127.1% during the 1st quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company’s stock valued at $814,000 after purchasing an additional 414,068 shares during the period. Invesco Ltd. boosted its position in shares of Ballard Power Systems by 3.6% in the first quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock worth $4,102,000 after buying an additional 130,772 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Ballard Power Systems during the first quarter valued at $296,000. 28.02% of the stock is currently owned by institutional investors.

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.