Ballard Power Systems (NASDAQ:BLDP) Downgraded by ValuEngine

ValuEngine cut shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a buy rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Several other research firms have also recently commented on BLDP. BidaskClub cut Ballard Power Systems from a strong-buy rating to a buy rating in a report on Thursday, September 26th. Roth Capital cut Ballard Power Systems from a neutral rating to a sell rating and set a $3.00 price target for the company. in a report on Monday, July 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a buy rating and set a $5.50 price target for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $3.90.

Ballard Power Systems stock traded down $0.05 during midday trading on Thursday, reaching $5.05. 350,545 shares of the company were exchanged, compared to its average volume of 1,500,969. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -38.81 and a beta of 1.74. The firm’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $4.08. Ballard Power Systems has a 1 year low of $2.25 and a 1 year high of $5.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.85 and a current ratio of 4.40.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $22.42 million. Ballard Power Systems had a negative return on equity of 13.15% and a negative net margin of 40.67%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, analysts forecast that Ballard Power Systems will post -0.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank lifted its stake in shares of Ballard Power Systems by 17.3% in the 2nd quarter. Toronto Dominion Bank now owns 38,386 shares of the technology company’s stock valued at $157,000 after purchasing an additional 5,649 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $116,000. First Trust Advisors LP lifted its stake in shares of Ballard Power Systems by 3.8% in the 1st quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock valued at $679,000 after purchasing an additional 8,275 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $41,000. Finally, Royal Bank of Canada lifted its stake in shares of Ballard Power Systems by 9.2% in the 2nd quarter. Royal Bank of Canada now owns 201,214 shares of the technology company’s stock valued at $822,000 after purchasing an additional 16,969 shares in the last quarter. Institutional investors own 2.97% 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 fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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