Ballard Power Systems (NASDAQ:BLDP) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a sell rating in a report published on Friday morning.

Several other analysts have also weighed in on BLDP. Jefferies Financial Group decreased their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Raymond James decreased their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. National Bankshares decreased their price target on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Citigroup decreased their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, Cibc World Mkts lowered Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems currently has an average rating of “Hold” and a consensus target price of $2.89.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded up $0.04 during trading on Friday, hitting $1.62. The company’s stock had a trading volume of 4,095,908 shares, compared to its average volume of 3,044,602. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $1.70 and a 200 day moving average price of $2.24. The firm has a market cap of $485.06 million, a P/E ratio of -2.57 and a beta of 1.78. Ballard Power Systems has a 52 week low of $1.52 and a 52 week high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same quarter last year, the firm earned ($0.10) EPS. Ballard Power Systems’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts forecast that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the business. Endowment Wealth Management Inc. bought a new stake in shares of Ballard Power Systems in the first quarter worth about $28,000. Tidal Investments LLC bought a new position in shares of Ballard Power Systems during the first quarter worth about $39,000. Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the first quarter worth about $59,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter worth about $52,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after buying an additional 14,415 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

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. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.