Zacks Investment Research downgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a sell rating in a report released on Tuesday.
According to Zacks, “Ballard Power Systems focuses on developing and bringing to market PEM fuel cell systems for transportation, stationary, and portable applications. Ballard now offers key subsystems and components that are based on technology developed in support of Ballard fuel cell products. Their focus is on further enhancing product performance, reducing costs, designing market-viable products, developing additional volume-manufacturing capabilities, and continuing to build customer and supplier relationships. “
A number of other equities research analysts have also issued reports on BLDP. HC Wainwright set a $5.00 price target on Ballard Power Systems and gave the stock a buy rating in a research note on Wednesday, November 14th. B. Riley set a $3.00 price target on Ballard Power Systems and gave the stock a hold rating in a research note on Wednesday, November 14th. Finally, BidaskClub lowered Ballard Power Systems from a hold rating to a sell rating in a research note on Tuesday, January 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $3.45.
NASDAQ:BLDP opened at $3.13 on Tuesday. The company has a quick ratio of 4.87, a current ratio of 5.48 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $581.34 million, a PE ratio of -24.08 and a beta of 2.19. Ballard Power Systems has a one year low of $2.25 and a one year high of $4.62.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $28.50 million during the quarter, compared to analysts’ expectations of $23.50 million. Ballard Power Systems had a negative return on equity of 15.06% and a negative net margin of 28.30%. Sell-side analysts expect that Ballard Power Systems will post -0.17 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in Ballard Power Systems in the 4th quarter worth $81,000. Cetera Advisors LLC increased its stake in Ballard Power Systems by 64.0% in the 4th quarter. Cetera Advisors LLC now owns 21,138 shares of the technology company’s stock worth $47,000 after buying an additional 8,248 shares in the last quarter. Jane Street Group LLC increased its stake in Ballard Power Systems by 57.3% in the 4th quarter. Jane Street Group LLC now owns 16,149 shares of the technology company’s stock worth $39,000 after buying an additional 5,882 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Ballard Power Systems in the 4th quarter worth $54,000. Finally, First Trust Advisors LP increased its stake in Ballard Power Systems by 31.4% in the 4th quarter. First Trust Advisors LP now owns 217,448 shares of the technology company’s stock worth $520,000 after buying an additional 51,926 shares in the last quarter. Institutional investors and hedge funds own 2.78% 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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.
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