Ballard Power Systems (NASDAQ:BLDP) Lowered to “Buy” at BidaskClub

BidaskClub lowered shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a strong-buy rating to a buy rating in a research note released on Friday morning, BidAskClub reports.

Several other research firms have also commented on BLDP. ValuEngine lowered shares of Ballard Power Systems from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of Ballard Power Systems from a sell rating to a hold rating in a research report on Monday, January 6th. Lake Street Capital upped their price target on shares of Ballard Power Systems from $5.00 to $6.00 and gave the company an in-line rating in a research report on Friday, November 1st. Finally, HC Wainwright reaffirmed a hold rating on shares of Ballard Power Systems in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Ballard Power Systems presently has a consensus rating of Hold and an average price target of $5.08.

NASDAQ BLDP opened at $9.15 on Friday. Ballard Power Systems has a 52 week low of $2.85 and a 52 week high of $12.13. The firm has a market capitalization of $2.27 billion, a P/E ratio of -50.83 and a beta of 1.88. The company has a quick ratio of 3.32, a current ratio of 3.91 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $8.22 and a 200-day moving average price of $5.94.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Ballard Power Systems had a negative net margin of 43.31% and a negative return on equity of 12.74%. The business had revenue of $24.79 million for the quarter, compared to analysts’ expectations of $25.60 million. As a group, equities research analysts anticipate that Ballard Power Systems will post -0.16 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in BLDP. Jane Street Group LLC purchased a new stake in Ballard Power Systems in the 2nd quarter worth approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ballard Power Systems by 60.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,405 shares of the technology company’s stock worth $56,000 after acquiring an additional 4,295 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Ballard Power Systems by 175.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 27,279 shares of the technology company’s stock worth $133,000 after acquiring an additional 17,362 shares in the last quarter. Toronto Dominion Bank increased its holdings in Ballard Power Systems by 17.3% in the 2nd quarter. Toronto Dominion Bank now owns 38,386 shares of the technology company’s stock worth $157,000 after acquiring an additional 5,649 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in Ballard Power Systems by 75.5% in the 3rd quarter. Virtu Financial LLC now owns 40,748 shares of the technology company’s stock worth $199,000 after acquiring an additional 17,525 shares in the last quarter. 4.24% of the stock is owned by institutional investors.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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