Ballard Power Systems (NASDAQ:BLDP) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

Several other analysts have also recently commented on the stock. ATB Cormark Capital Markets lifted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $5.00 in a research note on Tuesday, May 5th. Wells Fargo & Company increased their price objective on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. Raymond James Financial raised their target price on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Finally, National Bank Financial set a $4.75 target price on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $3.52.

Ballard Power Systems Trading Down 3.9%

Shares of NASDAQ:BLDP opened at $2.98 on Wednesday. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 52-week low of $1.70 and a 52-week high of $6.57. The stock has a market cap of $898.41 million, a price-to-earnings ratio of -11.04 and a beta of 2.25. The business has a 50-day moving average price of $4.25 and a 200-day moving average price of $3.24.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The firm had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. Equities analysts predict that Ballard Power Systems will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its stake in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 6,952 shares during the period. Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems during the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at $26,000. Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $28,000. Finally, Cetera Investment Advisers acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at $33,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.