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

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD was downgraded by equities research analysts at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on BLDP. Susquehanna lowered their price target on Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th. Lake Street Capital lowered their target price on shares of Ballard Power Systems from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Citigroup cut their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a "neutral" rating for the company in a report on Monday, September 30th. Cormark reaffirmed a "market perform" rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Finally, Cibc World Mkts cut shares of Ballard Power Systems from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $2.87.

Ballard Power Systems Stock Performance

Ballard Power Systems stock traded down $0.01 on Wednesday, hitting $1.34. The company's stock had a trading volume of 4,171,372 shares, compared to its average volume of 2,909,424. The company has a fifty day moving average price of $1.69 and a 200-day moving average price of $2.21. The firm has a market cap of $401.22 million, a P/E ratio of -2.14 and a beta of 1.78. Ballard Power Systems has a one year low of $1.32 and a one year high of $4.02. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm had revenue of $16.00 million during the quarter, compared to analysts' expectations of $19.36 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Ballard Power Systems will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently made changes to their positions in the company. Toronto Dominion Bank raised its holdings in Ballard Power Systems by 182.8% during the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company's stock worth $96,000 after purchasing an additional 22,273 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Ballard Power Systems by 4.1% during the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company's stock worth $600,000 after buying an additional 8,549 shares during the last quarter. Tidal Investments LLC acquired a new position in Ballard Power Systems in the first quarter valued at approximately $39,000. Van ECK Associates Corp boosted its stake in Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company's stock valued at $5,224,000 after acquiring an additional 186,833 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Ballard Power Systems by 84.3% during the 2nd quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company's stock worth $179,000 after acquiring an additional 36,368 shares during the period. Institutional investors and hedge funds own 28.02% of the company's stock.

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.