Ballard Power Systems (NASDAQ:BLDP) Downgraded by Hsbc Global Res to Hold

Hsbc Global Res downgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

A number of other research analysts have also commented on the company. CIBC decreased their price objective on Ballard Power Systems from $1.60 to $1.40 and set an “underperformer” rating on the stock in a report on Wednesday. Lake Street Capital reduced their target price on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Cibc World Mkts lowered Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group reduced their target price on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $2.87.

Ballard Power Systems Stock Down 19.2 %

BLDP stock opened at $1.35 on Wednesday. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $404.22 million, a PE ratio of -2.14 and a beta of 1.78. Ballard Power Systems has a 1-year low of $1.32 and a 1-year high of $4.02. The business’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.21.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same period in the prior year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Ballard Power Systems will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Ballard Power Systems by 12.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after purchasing an additional 32,909 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in Ballard Power Systems in the second quarter valued at approximately $219,000. Susquehanna Fundamental Investments LLC acquired a new stake in Ballard Power Systems in the second quarter valued at approximately $204,000. Scientech Research LLC acquired a new stake in Ballard Power Systems in the second quarter valued at approximately $52,000. Finally, Decade Renewable Partners LP acquired a new stake in Ballard Power Systems in the second quarter valued at approximately $450,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.