BidaskClub cut shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a sell rating to a strong sell rating in a research note issued to investors on Thursday.

A number of other analysts have also recently issued reports on BLDP. HC Wainwright restated a buy rating and set a $6.00 target price on shares of Ballard Power Systems in a research note on Tuesday, September 26th. Cowen restated a hold rating and set a $4.50 target price on shares of Ballard Power Systems in a research note on Tuesday, October 17th. FBR & Co restated a buy rating and set a $6.00 target price on shares of Ballard Power Systems in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Ballard Power Systems from a hold rating to a buy rating and set a $5.50 target price for the company in a research note on Tuesday, October 31st. Finally, Roth Capital set a $5.00 target price on shares of Ballard Power Systems and gave the stock a hold rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $5.50.

Shares of Ballard Power Systems (BLDP) opened at $3.96 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.70. The stock has a market cap of $707.28, a PE ratio of -99.00 and a beta of 2.50. Ballard Power Systems has a 12 month low of $1.84 and a 12 month high of $5.93.

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

A number of institutional investors have recently modified their holdings of BLDP. PEAK6 Investments L.P. raised its stake in Ballard Power Systems by 556.3% in the 3rd quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 183,921 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ballard Power Systems in the 2nd quarter worth about $105,000. Jane Street Group LLC acquired a new stake in Ballard Power Systems in the 3rd quarter worth about $141,000. First Manhattan Co. acquired a new stake in Ballard Power Systems in the 3rd quarter worth about $126,000. Finally, First Trust Advisors LP raised its stake in Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $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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