Ballard Power Systems (NASDAQ:BLDP) Upgraded to "Strong Sell" at TD Cowen

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD was upgraded by research analysts at TD Cowen to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

BLDP has been the topic of a number of other research reports. Cormark reiterated a "market perform" rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Citigroup reduced their target price on Ballard Power Systems from $3.50 to $2.00 and set a "neutral" rating on the stock in a report on Monday, September 30th. Susquehanna lowered their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Wednesday, October 16th. Hsbc Global Res downgraded shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, CIBC decreased their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating for the company in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $2.77.

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Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock traded down $0.07 during trading on Monday, reaching $1.56. 6,874,682 shares of the company's stock were exchanged, compared to its average volume of 12,452,737. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.66. The company has a market cap of $467.10 million, a P/E ratio of -1.42 and a beta of 1.67. The firm's 50-day moving average price is $1.56 and its 200 day moving average price is $1.79.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company's stock valued at $2,008,000 after buying an additional 646,219 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Ballard Power Systems by 52.6% in the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company's stock worth $1,727,000 after acquiring an additional 330,815 shares in the last quarter. DRW Securities LLC grew its stake in shares of Ballard Power Systems by 2,097.1% in the 3rd quarter. DRW Securities LLC now owns 333,322 shares of the technology company's stock worth $600,000 after acquiring an additional 318,151 shares in the last quarter. Decade Renewable Partners LP purchased a new stake in shares of Ballard Power Systems in the second quarter valued at about $450,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company's stock valued at $786,000 after purchasing an additional 193,658 shares in the last quarter. Institutional investors 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.