Ballard Power Systems (NASDAQ:BLDP) Upgraded at TD Securities

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by stock analysts at TD Securities from a “sell” rating to a “hold” rating in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a $2.50 price target on the technology company’s stock. TD Securities’ price objective points to a potential downside of 9.26% from the stock’s previous close.

BLDP has been the subject of a number of other research reports. TD Cowen lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group upped their price objective on Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. HSBC set a $3.40 price target on Ballard Power Systems in a report on Thursday, October 9th. Finally, Susquehanna increased their price objective on shares of Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a report on Monday, October 13th. Fourteen research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.23.

Ballard Power Systems Stock Performance

Shares of BLDP stock traded up $0.03 during trading hours on Friday, reaching $2.76. 2,349,494 shares of the company traded hands, compared to its average volume of 3,036,796. The firm has a 50-day moving average price of $2.87 and a 200 day moving average price of $2.53. The company has a market cap of $828.54 million, a P/E ratio of -6.89 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. 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 earnings results on Thursday, November 13th. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. The company had revenue of $32.66 million for the quarter, compared to analysts’ expectations of $23.76 million. As a group, sell-side analysts predict that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently bought and sold shares of BLDP. SBI Securities Co. Ltd. lifted its position in 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 purchasing an additional 13,094 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Ballard Power Systems in the 3rd quarter worth about $43,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Ballard Power Systems by 21.9% during the 2nd 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 in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ballard Power Systems by 108.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after acquiring an additional 19,170 shares during the last quarter. Finally, Amundi grew its position in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after acquiring an additional 9,454 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.