Ballard Power Systems (NASDAQ:BLDP) Upgraded to Hold at TD Securities

TD Securities upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a sell rating to a hold rating in a research note released on Friday morning,BayStreet.CA reports. TD Securities currently has $2.50 target price on the technology company’s stock.

BLDP has been the topic of several other reports. UBS Group increased their price objective on Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Cowen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday. HSBC set a $3.40 price target on shares of Ballard Power Systems in a research note on Thursday, October 9th. Roth Capital reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Ballard Power Systems in a research note on Friday, November 14th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a report on Friday, November 14th. Fourteen investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems presently has an average rating of “Reduce” and an average target price of $2.23.

Ballard Power Systems Stock Up 1.1%

BLDP stock opened at $2.76 on Friday. The company has a current ratio of 8.33, a quick ratio of 7.53 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $2.86 and its 200 day moving average is $2.53. The stock has a market cap of $830.04 million, a price-to-earnings ratio of -6.90 and a beta of 1.65. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $32.66 million during the quarter, compared to analyst estimates of $23.76 million. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. Sell-side analysts predict that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLDP. Royal Bank of Canada raised its holdings in Ballard Power Systems by 29.1% during the 1st quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock valued at $761,000 after buying an additional 156,014 shares during the last quarter. Amundi raised its stake in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ballard Power Systems by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock worth $4,499,000 after purchasing an additional 285,317 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Ballard Power Systems by 56.2% during the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 534,834 shares during the period. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.