Ballard Power Systems (NASDAQ:BLDP) Rating Increased to Strong Sell at TD Cowen

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by TD Cowen to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also weighed in on BLDP. CIBC decreased their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. Citigroup decreased their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Stock Down 6.9 %

BLDP stock opened at $1.63 on Monday. Ballard Power Systems has a twelve month low of $1.23 and a twelve month high of $3.66. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $488.06 million, a PE ratio of -1.48 and a beta of 1.67. The business’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.79.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garden State Investment Advisory Services LLC bought a new stake in shares of Ballard Power Systems during the third quarter worth $119,000. Tidal Investments LLC lifted its position in Ballard Power Systems by 17.1% during the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock worth $477,000 after buying an additional 38,616 shares in the last quarter. Virtu Financial LLC acquired a new position in Ballard Power Systems during the 3rd quarter worth about $135,000. Toronto Dominion Bank grew its holdings in Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after acquiring an additional 20,949 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Ballard Power Systems by 51.0% in the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after acquiring an additional 146,104 shares in the last quarter. 28.02% 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 (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.