Ballard Power Systems (NASDAQ:BLDP) Stock Rating Lowered by Hsbc Global Res

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

BLDP has been the topic of several other reports. Jefferies Financial Group dropped their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Wells Fargo & Company lowered their target price on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. Finally, CIBC cut their price objective on Ballard Power Systems from $1.60 to $1.40 and set an “underperformer” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.87.

Ballard Power Systems Stock Down 0.7 %

Shares of NASDAQ BLDP opened at $1.34 on Wednesday. The firm has a market capitalization of $401.22 million, a price-to-earnings ratio of -2.13 and a beta of 1.78. The business has a 50-day moving average of $1.68 and a 200-day moving average of $2.21. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.32 and a 12 month high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLDP. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ballard Power Systems by 12.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock valued at $535,000 after buying an additional 32,909 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Ballard Power Systems during the 2nd quarter worth $219,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Ballard Power Systems during the 2nd quarter worth $204,000. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems during the 2nd quarter worth $52,000. Finally, Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems during the 2nd quarter worth $450,000. Institutional investors and hedge funds 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.