Ballard Power Systems (NASDAQ:BLDP) Lowered to Hold Rating by HSBC

HSBC lowered shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports.

Other analysts also recently issued research reports about the company. Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Raymond James lowered their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Susquehanna cut their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Finally, CIBC reissued an “underperformer” rating and set a $1.60 price objective (down previously from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.78.

Ballard Power Systems Trading Up 0.7 %

Shares of Ballard Power Systems stock opened at $1.35 on Wednesday. The business has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $2.20. The firm has a market cap of $404.22 million, a price-to-earnings ratio of -1.23 and a beta of 1.78. Ballard Power Systems has a fifty-two week low of $1.27 and a fifty-two week high of $4.02. The company has a quick ratio of 10.05, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Decade Renewable Partners LP bought a new stake in Ballard Power Systems during the 2nd quarter valued at approximately $450,000. Van ECK Associates Corp increased its position in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after acquiring an additional 186,833 shares during the period. 3Chopt Investment Partners LLC acquired a new position in Ballard Power Systems during the 2nd quarter valued at $219,000. Susquehanna Fundamental Investments LLC bought a new stake in Ballard Power Systems in the 2nd quarter valued at $204,000. Finally, XTX Topco Ltd bought a new stake in Ballard Power Systems in the 2nd quarter valued at $154,000. 28.02% of the stock is owned by institutional investors and hedge funds.

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. 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.