Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.
A number of other research analysts have also weighed in on the company. ATB Cormark Capital Markets raised their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the company a "sector perform" rating in a research report on Wednesday, May 6th. BMO Capital Markets boosted their target price on Ballard Power Systems from $1.70 to $2.10 and gave the stock an "underperform" rating in a report on Wednesday, May 6th. Wall Street Zen cut Ballard Power Systems from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. TD Cowen raised their price target on Ballard Power Systems from $2.50 to $4.25 and gave the company a "hold" rating in a report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price target on Ballard Power Systems from $2.40 to $4.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $3.50.
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Ballard Power Systems Price Performance
Shares of NASDAQ BLDP opened at $2.40 on Thursday. Ballard Power Systems has a fifty-two week low of $1.83 and a fifty-two week high of $6.57. The company has a 50 day simple moving average of $3.13 and a two-hundred day simple moving average of $3.22. The company has a market capitalization of $723.62 million, a price-to-earnings ratio of -9.23 and a beta of 2.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.
Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released 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). The business had revenue of $20.34 million for the quarter, compared to analysts' expectations of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Analysts expect that Ballard Power Systems will post -0.17 EPS for the current fiscal year.
Institutional Investors Weigh In On Ballard Power Systems
Institutional investors and hedge funds have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. lifted its position in Ballard Power Systems by 10.9% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company's stock valued at $123,000 after acquiring an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of 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. Amundi increased its holdings in shares of Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Ballard Power Systems by 27.7% in the fourth quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company's stock worth $118,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems in the fourth quarter worth $26,000. Institutional investors own 28.02% of the company's stock.
About Ballard Power Systems
(
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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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