Ballard Power Systems (NASDAQ:BLDP) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a sell rating in a research note published on Friday morning.

Several other research analysts have also weighed in on BLDP. Lake Street Capital dropped their price target on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. BMO Capital Markets reduced their price target on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. National Bankshares lowered their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Raymond James cut their target price on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Finally, Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.89.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.73 on Friday. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The firm has a market cap of $518.00 million, a price-to-earnings ratio of -2.75 and a beta of 1.78. Ballard Power Systems has a twelve month low of $1.52 and a twelve month high of $4.02. The company has a 50-day moving average of $1.70 and a 200-day moving average of $2.23.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. Ballard Power Systems’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. Analysts forecast that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ballard Power Systems by 12.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after buying an additional 32,909 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of Ballard Power Systems during the second quarter worth approximately $219,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ballard Power Systems in the second quarter valued at approximately $204,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter worth approximately $52,000. Finally, Decade Renewable Partners LP bought a new position in shares of Ballard Power Systems during the second quarter worth approximately $450,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.