Ballard Power Systems (BLDP) Lifted to Hold at BidaskClub

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also issued reports on BLDP. HC Wainwright set a $6.00 price target on shares of Ballard Power Systems and gave the company a “buy” rating in a research note on Wednesday, September 19th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Monday, October 8th. ValuEngine upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. TheStreet lowered shares of Ballard Power Systems from a “c-” rating to a “d+” rating in a research note on Thursday, October 11th. Finally, B. Riley lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $5.00 to $3.00 in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.45.

NASDAQ:BLDP traded down $0.08 during midday trading on Thursday, reaching $3.09. 518,878 shares of the stock traded hands, compared to its average volume of 743,025. Ballard Power Systems has a 12-month low of $2.25 and a 12-month high of $4.62. The company has a quick ratio of 1.62, a current ratio of 2.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $575.94 million, a price-to-earnings ratio of -103.00 and a beta of 1.93.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, October 31st. The technology company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). Ballard Power Systems had a negative net margin of 17.29% and a negative return on equity of 14.64%. The firm had revenue of $21.57 million for the quarter, compared to analysts’ expectations of $31.27 million. As a group, analysts expect that Ballard Power Systems will post -0.11 EPS for the current year.

A number of institutional investors have recently modified their holdings of BLDP. HRT Financial LLC acquired a new position in Ballard Power Systems during the 3rd quarter valued at approximately $132,000. CIBC World Markets Inc. acquired a new stake in shares of Ballard Power Systems in the third quarter worth $174,000. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Ballard Power Systems in the third quarter worth $215,000. Virtu Financial LLC increased its stake in shares of Ballard Power Systems by 324.2% in the third quarter. Virtu Financial LLC now owns 46,846 shares of the technology company’s stock worth $231,000 after acquiring an additional 35,802 shares during the period. Finally, Global X Management Co LLC acquired a new stake in shares of Ballard Power Systems in the second quarter worth $231,000. Institutional investors and hedge funds own 3.22% of the company’s stock.

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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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