Ballard Power Systems (NASDAQ:BLDP) Cut to Hold at Hsbc Global Res

Hsbc Global Res cut shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other analysts have also commented on BLDP. Jefferies Financial Group dropped their price target on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. CIBC decreased their price objective on shares of Ballard Power Systems from $1.60 to $1.40 and set an “underperformer” rating on the stock in a report on Wednesday. Truist Financial decreased their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Susquehanna decreased their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, BMO Capital Markets decreased their price objective on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.78.

Ballard Power Systems Stock Performance

Shares of NASDAQ:BLDP traded up $0.01 during midday trading on Wednesday, reaching $1.35. The company’s stock had a trading volume of 3,384,938 shares, compared to its average volume of 2,911,644. The firm has a market capitalization of $404.22 million, a PE ratio of -1.23 and a beta of 1.78. Ballard Power Systems has a twelve month low of $1.27 and a twelve month high of $4.02. The stock has a fifty day moving average of $1.67 and a 200 day moving average of $2.20. The company has a quick ratio of 10.05, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. On average, equities analysts expect that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently bought and sold shares of the company. Endowment Wealth Management Inc. purchased a new position in Ballard Power Systems during the first quarter worth about $28,000. Tidal Investments LLC purchased a new position in Ballard Power Systems during the first quarter worth about $39,000. Scientech Research LLC purchased a new position in Ballard Power Systems during the second quarter worth about $52,000. Daiwa Securities Group Inc. raised its stake in 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 purchasing an additional 14,415 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Ballard Power Systems during the first quarter valued at about $59,000. 28.02% of the stock is owned by hedge funds and other 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.