Ballard Power Systems (NASDAQ:BLDP) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Ballard Power Systems' stock has been restated with a Sell (D-) rating by Weiss Ratings, indicating a negative outlook.
• Various analysts have adjusted their price targets, with consensus indicating an expected price target of $1.51 and a general rating of "Reduce."
• Despite the negative sentiment, the company reported a quarterly revenue of $17.98 million, exceeding analysts' expectations.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD's stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently weighed in on the stock. Roth Capital boosted their price target on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a report on Monday, August 11th. Susquehanna boosted their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wells Fargo & Company boosted their price objective on Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. BMO Capital Markets boosted their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the company an "underperform" rating in a research note on Tuesday, August 12th. Finally, Lake Street Capital cut Ballard Power Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. Ten analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $1.51.

Ballard Power Systems Stock Performance

Shares of NASDAQ:BLDP traded down $0.02 during midday trading on Wednesday, reaching $3.61. The company had a trading volume of 7,180,772 shares, compared to its average volume of 8,412,942. The company's 50 day moving average price is $2.24 and its 200 day moving average price is $1.72. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.09 billion, a P/E ratio of -3.65 and a beta of 1.80. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.85.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The company had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. As a group, sell-side analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of BLDP. SBI Securities Co. Ltd. increased its position in shares of Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock valued at $37,000 after buying an additional 13,094 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Ballard Power Systems in the first quarter valued at approximately $40,000. Vanguard Personalized Indexing Management LLC raised its stake in Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after purchasing an additional 5,482 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock valued at $58,000 after purchasing an additional 19,170 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Ballard Power Systems in the first quarter valued at approximately $69,000. 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.

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