Ballard Power Systems (NASDAQ:BLDP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a sell rating in a report released on Saturday morning.

Other analysts have also recently issued reports about the company. Raymond James Financial upped their price objective on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. Zacks Research upgraded shares of Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Friday, July 17th. Finally, National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.50.

Ballard Power Systems Trading Down 2.7%

Shares of BLDP stock opened at $2.55 on Friday. The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $768.85 million, a price-to-earnings ratio of -9.81 and a beta of 2.29. Ballard Power Systems has a 12-month low of $1.70 and a 12-month high of $6.57. The stock’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.23.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) EPS 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 the consensus estimate of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Equities research analysts predict that Ballard Power Systems will post -0.19 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Ballard Power Systems by 2.5% during the third quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock valued at $36,486,000 after acquiring an additional 326,505 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after purchasing an additional 657,107 shares during the period. Invesco Ltd. boosted its stake in shares of Ballard Power Systems by 48.6% during the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after purchasing an additional 1,625,542 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Ballard Power Systems by 204.5% during the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock valued at $10,145,000 after purchasing an additional 2,682,355 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

About Ballard Power Systems

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.