Ballard Power Systems (NASDAQ:BLDP) Cut to Sell at Wall Street Zen

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

A number of other analysts have also recently issued reports on the company. Susquehanna cut their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Jefferies Financial Group reissued a “hold” rating and set a $1.68 target price on shares of Ballard Power Systems in a report on Tuesday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a report on Thursday, October 15th. Zacks Research cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, UBS Group cut their price target on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $3.13.

Ballard Power Systems Trading Down 4.5%

Shares of BLDP opened at $1.50 on Friday. The firm has a 50-day moving average of $1.99 and a 200-day moving average of $2.87. Ballard Power Systems has a one year low of $1.43 and a one year high of $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued 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). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The firm had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Sell-side analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in Ballard Power Systems in the second quarter valued at about $3,231,000. Renaissance Technologies LLC acquired a new position in Ballard Power Systems during the first quarter worth about $1,362,000. Legal & General Group Plc bought a new position in shares of Ballard Power Systems in the second quarter worth about $28,144,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Ballard Power Systems in the second quarter worth about $3,392,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ballard Power Systems by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,549 shares of the technology company’s stock valued at $4,431,000 after purchasing an additional 283,684 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.