Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

A number of other brokerages also recently issued reports on BLDP. Cowen reiterated a “hold” rating and issued a $4.50 price objective on shares of Ballard Power Systems in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Ballard Power Systems in a research report on Tuesday, September 26th. Roth Capital set a $5.00 price objective on Ballard Power Systems and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, B. Riley set a $6.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $5.50.

Ballard Power Systems (NASDAQ BLDP) opened at $3.96 on Thursday. Ballard Power Systems has a twelve month low of $1.84 and a twelve month high of $5.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.70 and a quick ratio of 2.17. The company has a market capitalization of $704.61, a price-to-earnings ratio of -99.00 and a beta of 2.50.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Ballard Power Systems had a negative return on equity of 4.36% and a negative net margin of 5.57%. The company had revenue of $31.90 million for the quarter, compared to the consensus estimate of $28.33 million. During the same quarter last year, the business posted ($0.02) earnings per share. The firm’s revenue was up 54.9% compared to the same quarter last year. research analysts anticipate that Ballard Power Systems will post -0.04 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. PEAK6 Investments L.P. raised its position in Ballard Power Systems by 556.3% during the third quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 183,921 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ballard Power Systems during the second quarter valued at about $105,000. Jane Street Group LLC purchased a new stake in Ballard Power Systems during the third quarter valued at about $141,000. First Manhattan Co. purchased a new stake in Ballard Power Systems during the third quarter valued at about $126,000. Finally, First Trust Advisors LP raised its position in Ballard Power Systems by 16.9% during the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after purchasing an additional 26,314 shares in the last quarter. Institutional investors and hedge funds own 3.06% of the company’s stock.

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About Ballard Power Systems

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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