BidaskClub Upgrades Ballard Power Systems (BLDP) to “Buy”

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. TheStreet upgraded shares of Ballard Power Systems from a “d” rating to a “c-” rating in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $3.45.

Shares of BLDP stock opened at $3.95 on Wednesday. Ballard Power Systems has a 12 month low of $2.25 and a 12 month high of $4.62. The firm has a market cap of $966.49 million, a PE ratio of -30.38 and a beta of 2.16. The company has a current ratio of 5.35, a quick ratio of 4.67 and a debt-to-equity ratio of 0.06.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Ballard Power Systems had a negative net margin of 36.58% and a negative return on equity of 14.37%. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $20.63 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company’s quarterly revenue was down 20.4% on a year-over-year basis. As a group, analysts expect that Ballard Power Systems will post -0.16 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in Ballard Power Systems by 57.3% in the 4th quarter. Jane Street Group LLC now owns 16,149 shares of the technology company’s stock worth $39,000 after purchasing an additional 5,882 shares in the last quarter. Alps Advisors Inc. boosted its stake in Ballard Power Systems by 10.2% in the 4th quarter. Alps Advisors Inc. now owns 80,176 shares of the technology company’s stock worth $192,000 after purchasing an additional 7,401 shares in the last quarter. Cetera Advisors LLC boosted its stake in Ballard Power Systems by 64.0% in the 4th quarter. Cetera Advisors LLC now owns 21,138 shares of the technology company’s stock worth $47,000 after purchasing an additional 8,248 shares in the last quarter. First Trust Advisors LP boosted its stake in Ballard Power Systems by 3.8% in the 1st quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock worth $679,000 after purchasing an additional 8,275 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Ballard Power Systems by 3.6% in the 1st quarter. Swiss National Bank now owns 295,700 shares of the technology company’s stock worth $896,000 after purchasing an additional 10,200 shares in the last quarter. Institutional investors own 2.22% 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 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.

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