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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was downgraded by HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports.

A number of other brokerages have also recently issued reports on BLDP. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their price objective for the company from $2.50 to $1.50 in a research note on Monday, August 12th. National Bankshares lowered their price target on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 13th. Susquehanna cut their price objective on shares of 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. Raymond James reduced their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Finally, BMO Capital Markets dropped their target price on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and a consensus target price of $2.89.

Ballard Power Systems Stock Down 3.5 %

NASDAQ:BLDP opened at $1.67 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. The firm’s 50-day moving average price is $1.70 and its 200-day moving average price is $2.22. The company has a market capitalization of $500.03 million, a PE ratio of -2.65 and a beta of 1.78. Ballard Power Systems has a 1-year low of $1.52 and a 1-year high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business had revenue of $14.76 million during the quarter, compared to analysts’ expectations of $24.74 million. On average, equities analysts predict that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in 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 valued at $600,000 after acquiring an additional 8,549 shares during the last quarter. Endowment Wealth Management Inc. purchased a new stake in shares of Ballard Power Systems during the 1st quarter valued at about $28,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Ballard Power Systems by 7.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after purchasing an additional 38,662 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Ballard Power Systems by 182.8% in 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 period. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Ballard Power Systems in the first quarter worth approximately $59,000. 28.02% of the stock is owned by institutional investors.

About Ballard Power Systems

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.