Ballard Power Systems (NASDAQ:BLDP) Stock Rating Upgraded by TD Cowen

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by stock analysts at TD Cowen to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on the company. Susquehanna decreased their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. CIBC reduced their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Trading Down 4.3 %

BLDP opened at $1.56 on Monday. The firm has a market capitalization of $467.10 million, a price-to-earnings ratio of -1.42 and a beta of 1.67. The company’s 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $1.78. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in BLDP. Garden State Investment Advisory Services LLC purchased a new position in shares of Ballard Power Systems in the 3rd quarter valued at about $119,000. Tidal Investments LLC raised its stake in Ballard Power Systems by 17.1% in the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock valued at $477,000 after purchasing an additional 38,616 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ballard Power Systems during the third quarter valued at approximately $135,000. Toronto Dominion Bank boosted its holdings in shares of Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after purchasing an additional 20,949 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Ballard Power Systems by 51.0% in the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock worth $779,000 after buying an additional 146,104 shares during the last quarter. Hedge funds and other institutional investors 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.