Ballard Power Systems (NASDAQ:BLDP) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Ballard Power Systems to “sell” from “hold,” while broader analyst sentiment remains “hold” with a consensus price target of $3.54.
• Ballard’s latest quarterly results missed expectations, with a $0.07 per-share loss versus the anticipated $0.04 loss and revenue of $20.34 million versus estimates of $25.24 million.
• Shares opened at $2.62 and have traded between $1.70 and $6.57 over the past year; the company remains unprofitable, reporting a negative 72.78% net margin.

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

Several other analysts also recently commented on the stock. Raymond James Financial lifted their target price on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a "market perform" rating in a report on Wednesday, May 6th. Zacks Research raised shares of Ballard Power Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the stock a "sector perform" rating in a research report on Wednesday, June 24th. Susquehanna reduced their price objective on Ballard Power Systems from $4.25 to $3.50 and set a "neutral" rating for the company in a report on Friday, July 10th. Finally, BMO Capital Markets upped their target price on Ballard Power Systems from $1.70 to $2.10 and gave the company an "underperform" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Ballard Power Systems has an average rating of "Hold" and a consensus target price of $3.54.

Ballard Power Systems Trading Up 2.7%

Shares of Ballard Power Systems stock opened at $2.62 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 9.90. The business has a fifty day simple moving average of $3.67 and a two-hundred day simple moving average of $3.23. Ballard Power Systems has a 1 year low of $1.70 and a 1 year high of $6.57. The company has a market capitalization of $789.96 million, a price-to-earnings ratio of -10.08 and a beta of 2.29.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Research analysts forecast that Ballard Power Systems will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently modified their holdings of BLDP. Rockefeller Capital Management L.P. raised its stake in Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after purchasing an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $26,000. Ground Swell Capital LLC bought a new position in shares of Ballard Power Systems during the first quarter worth approximately $26,000. Intesa Sanpaolo S.p.A. bought a new position in shares of Ballard Power Systems during the fourth quarter worth approximately $28,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Ballard Power Systems in the first quarter valued at approximately $33,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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