Ballard Power Systems (NASDAQ:BLDP) Upgraded by National Bank Financial to Hold Rating

National Bank Financial upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a hold rating in a research note issued to investors on Sunday,Zacks.com reports.

Other analysts have also issued research reports about the company. HSBC lowered their price target on Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a report on Friday, March 14th. Susquehanna reduced their price objective on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research note on Monday, April 14th. Citigroup reiterated a “sell” rating and issued a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a report on Thursday, March 13th. Finally, BMO Capital Markets reduced their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research note on Friday, March 14th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.09.

Ballard Power Systems Trading Up 7.2%

Shares of NASDAQ:BLDP opened at $1.64 on Friday. The company has a market cap of $491.73 million, a PE ratio of -1.49 and a beta of 1.68. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $2.94. The stock has a 50 day moving average of $1.27 and a 200 day moving average of $1.39. 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 announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The company had revenue of $14.76 million for the quarter, compared to the consensus estimate of $16.82 million. As a group, equities research analysts expect that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in BLDP. Van ECK Associates Corp raised 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 valued at $4,094,000 after acquiring an additional 644,861 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at about $310,000. Raymond James Financial Inc. bought a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ballard Power Systems by 16.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 980,067 shares of the technology company’s stock worth $1,629,000 after acquiring an additional 134,991 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ballard Power Systems by 71.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock valued at $1,695,000 after purchasing an additional 425,374 shares during the period. Hedge funds and other 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.