StockNews.com Upgrades Ballard Power Systems (NASDAQ:BLDP) to Sell

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

BLDP has been the topic of several other reports. HSBC cut their target price on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a research report on Thursday, March 13th. Citigroup reiterated a “sell” rating and issued a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Finally, Susquehanna decreased their price objective on Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and a consensus target price of $2.08.

Ballard Power Systems Trading Up 3.5 %

Shares of NASDAQ BLDP opened at $1.35 on Thursday. The stock has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.40. Ballard Power Systems has a twelve month low of $1.00 and a twelve month high of $3.34. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $403.28 million, a PE ratio of -1.22 and a beta of 1.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. On average, equities analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft purchased a new stake in Ballard Power Systems in the first quarter valued at approximately $78,000. Banque Cantonale Vaudoise purchased a new position in Ballard Power Systems in the 1st quarter valued at $171,000. Mackenzie Financial Corp increased its stake in Ballard Power Systems by 8.5% in the 1st quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company’s stock valued at $136,000 after buying an additional 9,626 shares during the period. Alps Advisors Inc. raised its position in Ballard Power Systems by 2.1% during the 1st quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company’s stock worth $437,000 after buying an additional 8,265 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in Ballard Power Systems by 10.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,099,554 shares of the technology company’s stock worth $1,209,000 after buying an additional 105,153 shares during the last quarter. 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.