Ballard Power Systems (NASDAQ:BLDP) Upgraded at BidaskClub

BidaskClub upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Ballard Power Systems from a hold rating to a sell rating in a report on Wednesday, November 6th. ValuEngine raised Ballard Power Systems from a hold rating to a buy rating in a report on Friday, November 1st. HC Wainwright cut Ballard Power Systems from a buy rating to a neutral rating in a report on Friday, November 1st. Finally, Lake Street Capital lifted their price objective on Ballard Power Systems from $5.00 to $6.00 and gave the company an in-line rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $5.06.

Shares of BLDP traded up $0.33 during mid-day trading on Wednesday, reaching $6.92. The company’s stock had a trading volume of 2,593,600 shares, compared to its average volume of 1,715,435. The stock has a market cap of $1.54 billion, a P/E ratio of -53.23 and a beta of 1.80. The company has a current ratio of 3.91, a quick ratio of 3.32 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $5.48 and a two-hundred day simple moving average of $4.49. Ballard Power Systems has a 1-year low of $2.25 and a 1-year high of $6.97.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $24.79 million during the quarter, compared to analyst estimates of $25.60 million. Ballard Power Systems had a negative net margin of 43.31% and a negative return on equity of 12.74%. Research analysts anticipate that Ballard Power Systems will post -0.16 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of BLDP. Commerzbank Aktiengesellschaft FI increased its stake in shares of Ballard Power Systems by 1,065.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 314,587 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 287,587 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ballard Power Systems by 13.4% in the 2nd quarter. Invesco Ltd. now owns 1,312,682 shares of the technology company’s stock valued at $5,356,000 after purchasing an additional 155,281 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Ballard Power Systems in the 2nd quarter valued at $561,000. Alps Advisors Inc. increased its stake in shares of Ballard Power Systems by 100.1% in the 2nd quarter. Alps Advisors Inc. now owns 252,543 shares of the technology company’s stock valued at $1,030,000 after purchasing an additional 126,321 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Ballard Power Systems in the 3rd quarter valued at $467,000. Institutional investors own 3.09% 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 fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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