Weiss Ratings Reiterates "Sell (D-)" Rating for Ballard Power Systems (NASDAQ:BLDP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Ballard Power Systems (NASDAQ:BLDP), indicating continued concerns about the company's performance.
• Despite this, Zacks Research has upgraded the stock from a "hold" to a "strong buy," reflecting a divergence in analyst opinions.
• Ballard reported a revenue of $17.98 million for the last quarter, exceeding expectations, but still posted a negative net margin of 409.35%.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD's stock had its "sell (d-)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on BLDP. Zacks Research upgraded Ballard Power Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 14th. HSBC set a $3.40 price target on Ballard Power Systems in a report on Thursday, October 9th. Susquehanna increased their price target on Ballard Power Systems from $2.00 to $3.30 and gave the stock a "neutral" rating in a report on Monday, October 13th. Roth Capital increased their price objective on Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Finally, BMO Capital Markets increased their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $2.00.

Ballard Power Systems Trading Up 4.9%

Shares of NASDAQ BLDP traded up $0.16 during midday trading on Friday, hitting $3.44. The company's stock had a trading volume of 5,609,655 shares, compared to its average volume of 8,428,263. 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 business's 50 day moving average is $2.65 and its two-hundred day moving average is $1.91. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $4.10. The firm has a market cap of $1.03 billion, a P/E ratio of -3.47 and a beta of 1.80.

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 the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The firm had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, equities research analysts expect that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. bought a new stake in Ballard Power Systems during the 3rd quarter valued at $447,000. Marex Group plc bought a new stake in Ballard Power Systems during the 2nd quarter valued at $243,000. Headlands Technologies LLC boosted its position in Ballard Power Systems by 364.7% during the 2nd quarter. Headlands Technologies LLC now owns 71,027 shares of the technology company's stock valued at $113,000 after acquiring an additional 55,742 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Ballard Power Systems by 117.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company's stock valued at $4,327,000 after acquiring an additional 1,467,547 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Ballard Power Systems during the 2nd quarter valued at $83,000. Institutional investors own 28.02% of the company's stock.

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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