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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also weighed in on the company. Lake Street Capital dropped their target price 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. Truist Financial decreased their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Susquehanna reduced their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Finally, Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.89.

Ballard Power Systems Stock Up 2.5 %

BLDP traded up $0.04 on Friday, reaching $1.62. The company’s stock had a trading volume of 4,022,991 shares, compared to its average volume of 2,840,161. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. Ballard Power Systems has a 1 year low of $1.52 and a 1 year high of $4.02. The business’s 50 day moving average is $1.70 and its 200 day moving average is $2.24. The stock has a market cap of $485.06 million, a price-to-earnings ratio of -2.57 and a beta of 1.78.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after purchasing an additional 353,098 shares during the last quarter. Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems during the 2nd quarter worth about $450,000. 3Chopt Investment Partners LLC acquired a new position in shares of Ballard Power Systems during the 2nd quarter worth about $219,000. Susquehanna Fundamental Investments LLC bought a new stake in Ballard Power Systems in the second quarter valued at approximately $204,000. Finally, XTX Topco Ltd acquired a new stake in Ballard Power Systems during the 2nd quarter worth $154,000. 28.02% of the stock is currently owned by institutional investors.

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.