Ballard Power Systems (NASDAQ:BLDP) Rating Lowered to Hold at TD Cowen

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research firms have also recently commented on BLDP. Roth Capital reissued a “neutral” rating and set a $3.00 target price on shares of Ballard Power Systems in a research note on Friday, November 14th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, October 8th. Susquehanna lifted their price target on Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Zacks Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Thirteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of “Reduce” and an average price target of $2.21.

Ballard Power Systems Stock Up 0.7%

BLDP opened at $2.73 on Friday. The stock’s 50 day moving average price is $2.87 and its 200 day moving average price is $2.53. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. The stock has a market cap of $821.02 million, a P/E ratio of -6.82 and a beta of 1.65. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%.The company had revenue of $32.66 million during the quarter, compared to analysts’ expectations of $23.76 million. As a group, research analysts predict that Ballard Power Systems will post -0.54 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP acquired a new position in Ballard Power Systems in the 3rd quarter worth approximately $43,000. SBI Securities Co. Ltd. grew its holdings in shares of Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after buying an additional 13,094 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after buying an additional 5,482 shares during the period. Scientech Research LLC increased its holdings in shares of Ballard Power Systems by 162.4% in the 3rd quarter. Scientech Research LLC now owns 35,237 shares of the technology company’s stock valued at $96,000 after purchasing an additional 21,808 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after purchasing an additional 19,170 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.