Ballard Power Systems (NASDAQ:BLDP) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a buy rating in a research note released on Friday, BidAskClub reports.

BLDP has been the subject of several other research reports. Zacks Investment Research raised Ballard Power Systems from a hold rating to a buy rating and set a $4.50 price target for the company in a research report on Wednesday, July 3rd. Roth Capital downgraded Ballard Power Systems from a neutral rating to a sell rating and set a $3.00 price target for the company. in a research report on Monday, July 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $3.70.

Ballard Power Systems stock opened at $4.56 on Friday. The company has a quick ratio of 3.85, a current ratio of 4.40 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $4.15. Ballard Power Systems has a fifty-two week low of $2.25 and a fifty-two week high of $4.69.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $23.70 million during the quarter, compared to the consensus estimate of $22.42 million. Ballard Power Systems had a negative return on equity of 13.15% and a negative net margin of 40.67%. Ballard Power Systems’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. On average, research analysts anticipate that Ballard Power Systems will post -0.13 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its position in shares of Ballard Power Systems by 17.5% in the second quarter. Swiss National Bank now owns 347,300 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 51,600 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of Ballard Power Systems by 1,065.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 314,587 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 287,587 shares during the period. Alps Advisors Inc. grew its position in shares of Ballard Power Systems by 100.1% in the second quarter. Alps Advisors Inc. now owns 252,543 shares of the technology company’s stock valued at $1,030,000 after purchasing an additional 126,321 shares during the period. First Trust Advisors LP grew its position in shares of Ballard Power Systems by 3.8% in the first quarter. First Trust Advisors LP now owns 225,723 shares of the technology company’s stock valued at $679,000 after purchasing an additional 8,275 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Ballard Power Systems in the second quarter valued at $561,000. 2.79% of the stock is owned by institutional investors.

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.

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