Ballard Power Systems (NASDAQ:BLDP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. The firm currently has $5.50 price target on the technology company’s stock.

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 brokerages have also issued reports on BLDP. BidaskClub lowered shares of Ballard Power Systems from a strong-buy rating to a buy rating in a research note on Thursday, September 26th. Roth Capital lowered shares of Ballard Power Systems from a neutral rating to a sell rating and set a $3.00 price target on the stock. in a research note on Monday, July 1st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Ballard Power Systems from a strong-buy rating to a buy rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Ballard Power Systems presently has an average rating of Hold and a consensus target price of $3.90.

Shares of NASDAQ:BLDP opened at $5.10 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.40 and a quick ratio of 3.85. The firm has a market capitalization of $1.17 billion, a PE ratio of -39.23 and a beta of 1.74. The firm’s 50-day moving average is $4.91 and its two-hundred day moving average is $4.08. Ballard Power Systems has a 1 year low of $2.25 and a 1 year high of $5.72.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The company had revenue of $23.70 million for the quarter, compared to analyst estimates of $22.42 million. Ballard Power Systems had a negative net margin of 40.67% and a negative return on equity of 13.15%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. Analysts expect that Ballard Power Systems will post -0.13 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in BLDP. First Trust Advisors LP grew its position in shares of Ballard Power Systems by 3.8% during the first quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock worth $679,000 after buying an additional 8,275 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Ballard Power Systems by 1,065.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 314,587 shares of the technology company’s stock worth $1,284,000 after buying an additional 287,587 shares in the last quarter. KBC Group NV grew its position in shares of Ballard Power Systems by 20.3% during the second quarter. KBC Group NV now owns 111,647 shares of the technology company’s stock worth $456,000 after buying an additional 18,806 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Ballard Power Systems during the second quarter worth about $561,000. Finally, Swiss National Bank grew its position in shares of Ballard Power Systems by 17.5% during the second quarter. Swiss National Bank now owns 347,300 shares of the technology company’s stock worth $1,419,000 after buying an additional 51,600 shares in the last quarter. 2.97% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

Featured Article: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on Ballard Power Systems (BLDP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit