Wall Street Zen Upgrades Ballard Power Systems (NASDAQ:BLDP) to “Hold”

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

BLDP has been the subject of several other research reports. National Bank Financial set a $4.75 price target on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Thursday. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price for the company in a research report on Monday, August 3rd. Susquehanna lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. 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 research note on Wednesday, September 30th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.30.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.57 on Friday. Ballard Power Systems has a one year low of $1.55 and a one year high of $6.57. The company has a market cap of $551.56 million, a PE ratio of -6.04 and a beta of 2.26. The stock has a 50-day moving average of $2.21 and a 200-day moving average of $3.20. 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 posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. On average, equities research analysts predict that Ballard Power Systems will post -0.17 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its holdings in Ballard Power Systems by 56.8% during the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock worth $114,000 after purchasing an additional 10,850 shares during the last quarter. Headlands Technologies LLC increased its stake in Ballard Power Systems by 31.6% in the 2nd quarter. Headlands Technologies LLC now owns 190,618 shares of the technology company’s stock valued at $742,000 after buying an additional 45,774 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Ballard Power Systems by 22.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 132,904 shares of the technology company’s stock valued at $517,000 after buying an additional 24,114 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Ballard Power Systems by 323.8% during the 2nd quarter. Hsbc Holdings PLC now owns 254,913 shares of the technology company’s stock worth $992,000 after buying an additional 194,768 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth approximately $2,070,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.