Ballard Power Systems, Inc. (BLDP) Lowered to Hold at Zacks Investment Research
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Ballard Power Systems focuses on developing and bringing to market PEM fuel cell systems for transportation, stationary, and portable applications. Ballard now offers key subsystems and components that are based on technology developed in support of Ballard fuel cell products. Their focus is on further enhancing product performance, reducing costs, designing market-viable products, developing additional volume-manufacturing capabilities, and continuing to build customer and supplier relationships. “
A number of other research analysts have also weighed in on BLDP. Cowen and Company reiterated a “hold” rating on shares of Ballard Power Systems in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a report on Friday. Roth Capital set a $5.00 price objective on shares of Ballard Power Systems and gave the stock a “hold” rating in a report on Wednesday, November 1st. FBR & Co reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a report on Friday, October 27th. Finally, BidaskClub downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.40.
Ballard Power Systems (NASDAQ:BLDP) traded up $0.22 during trading on Monday, hitting $5.86. 3,011,508 shares of the company’s stock traded hands, compared to its average volume of 2,306,314. Ballard Power Systems has a 1 year low of $1.61 and a 1 year high of $5.89.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.36%. The firm had revenue of $31.90 million for the quarter, compared to analysts’ expectations of $28.33 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 54.9% compared to the same quarter last year. sell-side analysts forecast that Ballard Power Systems will post -0.05 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in Ballard Power Systems by 16.9% in the second 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 during the period. First Manhattan Co. bought a new position in Ballard Power Systems during the third quarter valued at approximately $126,000. Dynamic Technology Lab Private Ltd bought a new position in Ballard Power Systems during the second quarter valued at approximately $105,000. Renaissance Technologies LLC lifted its position in Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after purchasing an additional 137,200 shares during the period. Finally, KCG Holdings Inc. increased its holdings in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares during the last quarter. Institutional investors and hedge funds own 2.82% of the company’s stock.
Ballard Power Systems Company Profile
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.
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