Ballard Power Systems (NASDAQ:BLDP) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a sell rating in a research report report published on Thursday morning.

Other analysts have also issued research reports about the stock. Citigroup reaffirmed a “sell” rating and set a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. Susquehanna cut their price objective on Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research report on Monday, April 14th. Roth Mkm decreased their target price on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Friday, March 14th. Wells Fargo & Company set a $1.00 price target on Ballard Power Systems in a report on Thursday, March 13th. Finally, HSBC decreased their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a report on Friday, March 14th. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and a consensus price target of $2.08.

Ballard Power Systems Trading Up 7.9 %

Shares of BLDP stock opened at $1.30 on Thursday. The firm has a market capitalization of $388.28 million, a P/E ratio of -1.18 and a beta of 1.68. Ballard Power Systems has a 1 year low of $1.00 and a 1 year high of $3.34. The firm’s fifty day simple moving average is $1.20 and its 200 day simple moving average is $1.40. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. The business had revenue of $14.76 million during the quarter, compared to analysts’ expectations of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. As a group, sell-side analysts predict that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently bought and sold shares of BLDP. Invesco Ltd. lifted its holdings in shares of Ballard Power Systems by 5.6% in the fourth quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock valued at $5,973,000 after purchasing an additional 191,582 shares in the last quarter. Millennium Management LLC boosted its holdings in Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after acquiring an additional 1,177,718 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Ballard Power Systems by 19.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock valued at $2,529,000 after purchasing an additional 252,524 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.