Weiss Ratings Reaffirms Sell (D-) Rating for Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “sell (d-)” rating reissued by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also weighed in on the company. BMO Capital Markets raised 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. Lake Street Capital lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 11th. Wells Fargo & Company raised their target price on Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Roth Capital raised their target price on Ballard Power Systems from $1.25 to $1.80 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Finally, Susquehanna raised their target price on Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Ten investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $1.70.

Ballard Power Systems Price Performance

BLDP stock opened at $3.59 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32. The firm has a market capitalization of $1.08 billion, a P/E ratio of -3.63 and a beta of 1.80. The business’s 50-day moving average is $2.31 and its two-hundred day moving average is $1.75. Ballard Power Systems has a 1 year low of $1.00 and a 1 year high of $3.85.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Ballard Power Systems by 104.2% during the second quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company’s stock worth $20,977,000 after buying an additional 6,701,756 shares during the period. Goldman Sachs Group Inc. increased its position in Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after buying an additional 829,012 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ballard Power Systems by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock worth $4,499,000 after buying an additional 285,317 shares during the period. Invesco Ltd. grew its stake in shares of Ballard Power Systems by 3.6% in the 1st quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock valued at $4,102,000 after purchasing an additional 130,772 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Ballard Power Systems by 117.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock valued at $4,327,000 after purchasing an additional 1,467,547 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

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.