Ballard Power Systems (NASDAQ:BLDP) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ballard Power Systems to “Hold” from “Sell,” while the broader analyst consensus remains “Reduce,” with a consensus price target of $3.30.
• Ballard shares opened at $1.57, near their 52-week low of $1.55 and well below their 50-day and 200-day moving averages of $2.21 and $3.19, respectively.
• The company reported weaker-than-expected quarterly results, including an adjusted loss of $0.07 per share versus expectations of $0.04 and revenue of $20.34 million versus the $25.24 million consensus estimate.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the company. HSBC upgraded Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 price objective for the company in a report on Monday, August 3rd. UBS Group reduced their target price on Ballard Power Systems from $6.50 to $2.15 and set a "neutral" rating on the stock in a research note on Wednesday, September 30th. National Bank Financial set a $4.75 target price on Ballard Power Systems and gave the company a "sector perform" rating in a research note on Wednesday, June 24th. Susquehanna decreased their target price on Ballard Power Systems from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, KeyCorp restated a "sector weight" rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of "Reduce" and a consensus target price of $3.30.

Ballard Power Systems Stock Down 6.0%

Ballard Power Systems stock opened at $1.57 on Friday. The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $2.21 and a 200-day moving average of $3.19. Ballard Power Systems has a 1-year low of $1.55 and a 1-year high of $6.57.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. The business had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. On average, equities analysts expect that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in Ballard Power Systems by 56.8% in the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company's stock worth $114,000 after purchasing an additional 10,850 shares in the last quarter. Headlands Technologies LLC lifted its position in Ballard Power Systems by 31.6% during the second quarter. Headlands Technologies LLC now owns 190,618 shares of the technology company's stock valued at $742,000 after buying an additional 45,774 shares during the period. Benjamin Edwards Inc. lifted its position in Ballard Power Systems by 22.2% during the second quarter. Benjamin Edwards Inc. now owns 132,904 shares of the technology company's stock valued at $517,000 after buying an additional 24,114 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Ballard Power Systems by 323.8% during the 2nd quarter. Hsbc Holdings PLC now owns 254,913 shares of the technology company's stock valued at $992,000 after buying an additional 194,768 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Ballard Power Systems during the 2nd quarter valued at $2,070,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.

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