Ballard Power Systems (NASDAQ:BLDP) Rating Lowered to "Hold" at Lake Street Capital

Key Points

• Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating due to concerns about the company's performance.
• Several analysts have rated Ballard Power with predominantly sell and hold ratings, with the consensus target price set at $2.14.
• Ballard's stock saw increased interest from institutional investors, with notable increases in holdings by firms such as Two Sigma Investments LP and Millennium Management LLC.

Lake Street Capital downgraded shares of Ballard Power Systems (NASDAQ:BLDP - Free Report) TSE: BLD from a buy rating to a hold rating in a research note published on Monday, Marketbeat.com reports.

BLDP has been the topic of several other reports. Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Susquehanna increased their price objective 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. Citigroup restated a "sell" rating and issued a $1.00 price target (down previously from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. Finally, UBS Group cut their price target on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a report on Monday, May 12th. Five investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $1.51.

Ballard Power Systems Price Performance

NASDAQ BLDP traded up $0.17 during trading hours on Monday, reaching $2.00. The company's stock had a trading volume of 7,932,205 shares, compared to its average volume of 5,774,703. The stock has a market cap of $599.74 million, a PE ratio of -2.02 and a beta of 1.76. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The company's 50-day moving average is $1.77 and its two-hundred day moving average is $1.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.31.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. The firm had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. Analysts forecast that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. Raymond James Financial Inc. acquired a new stake in shares of Ballard Power Systems during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. grew 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 worth $37,000 after buying an additional 13,094 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Ballard Power Systems during the first quarter worth approximately $40,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock worth $48,000 after buying an additional 5,482 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock worth $58,000 after buying an additional 19,170 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

About Ballard Power Systems

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.