Ballard Power Systems (NASDAQ:BLDP) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Thursday, October 15th. Jefferies Financial Group reissued a “hold” rating and set a $1.68 target price on shares of Ballard Power Systems in a research report on Tuesday. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price on the stock in a research note on Monday, August 3rd. Finally, Zacks Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $3.13.

Ballard Power Systems Trading Down 1.9%

Shares of NASDAQ:BLDP opened at $1.57 on Friday. Ballard Power Systems has a 1 year low of $1.43 and a 1 year high of $6.57. The stock’s fifty day moving average price is $2.00 and its 200-day moving average price is $2.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The company has a market cap of $551.56 million, a P/E ratio of -6.04 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $20.34 million for the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Sell-side analysts expect that Ballard Power Systems will post -0.17 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently modified their holdings of BLDP. J. Derek Lewis & Associates Inc. boosted its stake in shares of Ballard Power Systems by 10.9% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $41,000. TD Waterhouse Canada Inc. raised its holdings in shares of Ballard Power Systems by 56.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock valued at $114,000 after buying an additional 10,850 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in Ballard Power Systems during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.