Ballard Power Systems (BLDP) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

A number of other research analysts have also issued reports on BLDP. HC Wainwright restated a buy rating and set a $6.00 price objective on shares of Ballard Power Systems in a research report on Tuesday, September 26th. Cowen restated a hold rating and set a $4.50 price objective on shares of Ballard Power Systems in a research report on Tuesday, October 17th. FBR & Co restated a buy rating and set a $6.00 price objective on shares of Ballard Power Systems in a research report on Friday, October 27th. Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a buy rating and set a $5.50 price objective for the company in a research report on Tuesday, October 31st. Finally, Roth Capital set a $5.00 price objective on Ballard Power Systems and gave the company a hold rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Ballard Power Systems presently has a consensus rating of Hold and an average target price of $5.50.

Shares of Ballard Power Systems (NASDAQ:BLDP) traded down $0.04 on Thursday, hitting $3.96. The stock had a trading volume of 864,006 shares, compared to its average volume of 1,210,000. The firm has a market cap of $707.28, a price-to-earnings ratio of -99.00 and a beta of 2.50. The company has a current ratio of 2.70, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. Ballard Power Systems has a one year low of $1.84 and a one year high of $5.93.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $31.90 million during the quarter, compared to analyst estimates of $28.33 million. Ballard Power Systems had a negative return on equity of 4.36% and a negative net margin of 5.57%. The business’s revenue was up 54.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. sell-side analysts forecast that Ballard Power Systems will post -0.04 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Bluestein R H & Co. boosted its position in Ballard Power Systems by 11.2% during the 3rd quarter. Bluestein R H & Co. now owns 233,000 shares of the technology company’s stock valued at $1,090,000 after purchasing an additional 23,500 shares during the period. PEAK6 Investments L.P. boosted its position in Ballard Power Systems by 556.3% during the 3rd quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 183,921 shares during the period. First Trust Advisors LP boosted its position in Ballard Power Systems by 16.9% during the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after acquiring an additional 26,314 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Ballard Power Systems during the 2nd quarter worth $105,000. Finally, Jane Street Group LLC acquired a new position in Ballard Power Systems during the 3rd quarter worth $141,000. Institutional investors and hedge funds own 3.06% of the company’s stock.

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Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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