Ballard Power Systems (NASDAQ:BLDP) Lowered to Hold Rating by HSBC

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD was downgraded by stock analysts at HSBC from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.

Several other research analysts also recently issued reports on the company. CIBC restated an "underperformer" rating and set a $1.60 price objective (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. BMO Capital Markets reduced their price objective on Ballard Power Systems from $2.25 to $1.70 and set an "underperform" rating on the stock in a research report on Tuesday, August 13th. TD Securities lowered Ballard Power Systems from a "hold" rating to a "sell" rating and decreased their price objective for the company from $2.50 to $1.50 in a research note on Monday, August 12th. Susquehanna cut their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating for the company in a research note on Wednesday, October 16th. Finally, Lake Street Capital cut their price objective on shares of Ballard Power Systems from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.87.

Ballard Power Systems Price Performance

Ballard Power Systems stock traded down $0.32 during trading hours on Wednesday, hitting $1.35. The stock had a trading volume of 8,402,907 shares, compared to its average volume of 2,903,490. Ballard Power Systems has a 1-year low of $1.32 and a 1-year high of $4.02. The stock has a market capitalization of $404.22 million, a price-to-earnings ratio of -2.14 and a beta of 1.78. The stock's fifty day moving average is $1.69 and its two-hundred day moving average is $2.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) 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. The firm had revenue of $16.00 million for the quarter, compared to analysts' expectations of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) EPS. As a group, analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 32,909 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in Ballard Power Systems during the 2nd quarter worth approximately $219,000. Susquehanna Fundamental Investments LLC purchased a new position in Ballard Power Systems in the second quarter valued at approximately $204,000. Scientech Research LLC purchased a new stake in Ballard Power Systems during the second quarter worth approximately $52,000. Finally, Decade Renewable Partners LP purchased a new position in shares of Ballard Power Systems in the 2nd quarter valued at $450,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.