Ballard Power Systems (NASDAQ:BLDP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

BLDP has been the subject of several other reports. KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research note on Tuesday, August 4th. Zacks Research cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. UBS Group reduced their price target on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a report on Wednesday, September 30th. National Bank Financial set a $4.75 price target on Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. Finally, HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective on the stock in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.30.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $1.52 on Friday. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $3.19. Ballard Power Systems has a 1 year low of $1.50 and a 1 year high of $6.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The firm had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Equities research analysts expect that Ballard Power Systems will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLDP. Rockefeller Capital Management L.P. boosted its stake in shares of Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after buying an additional 6,952 shares during the period. Ground Swell Capital LLC acquired a new stake in Ballard Power Systems during the first quarter worth approximately $26,000. Farringdon Capital Ltd. acquired a new stake in Ballard Power Systems during the second quarter worth approximately $41,000. Cetera Investment Advisers acquired a new stake in Ballard Power Systems during the first quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after acquiring an additional 12,149 shares during the period. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.