Ballard Power Systems (BLDP) Downgraded by B. Riley to “Hold”

B. Riley downgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a buy rating to a hold rating in a research note released on Friday, Marketbeat reports. They currently have $3.00 price target on the technology company’s stock, down from their previous price target of $5.00. B. Riley also issued estimates for Ballard Power Systems’ Q4 2019 earnings at ($0.01) EPS, Q1 2020 earnings at ($0.01) EPS, Q2 2020 earnings at ($0.01) EPS and Q3 2020 earnings at ($0.01) EPS.

A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Ballard Power Systems from a buy rating to a hold rating in a report on Thursday. Zacks Investment Research lowered shares of Ballard Power Systems from a strong-buy rating to a hold rating in a report on Wednesday. HC Wainwright set a $6.00 target price on shares of Ballard Power Systems and gave the stock a buy rating in a report on Thursday, October 25th. TheStreet lowered shares of Ballard Power Systems from a c- rating to a d+ rating in a report on Thursday, October 11th. Finally, BidaskClub lowered shares of Ballard Power Systems from a buy rating to a hold rating in a report on Friday, September 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $3.70.

Shares of Ballard Power Systems stock traded down $0.25 during trading hours on Friday, reaching $2.74. 3,693,773 shares of the company’s stock were exchanged, compared to its average volume of 926,315. Ballard Power Systems has a 1 year low of $2.57 and a 1 year high of $5.93. The company has a quick ratio of 1.83, a current ratio of 2.64 and a debt-to-equity ratio of 0.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Wednesday, October 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). Ballard Power Systems had a negative return on equity of 14.43% and a negative net margin of 17.29%. The business had revenue of $21.57 million for the quarter, compared to analysts’ expectations of $31.27 million. Equities analysts anticipate that Ballard Power Systems will post -0.07 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in shares of Ballard Power Systems by 377.6% in the third quarter. Alps Advisors Inc. now owns 72,775 shares of the technology company’s stock valued at $313,000 after purchasing an additional 57,537 shares during the period. Global X Management Co LLC purchased a new stake in shares of Ballard Power Systems in the second quarter valued at about $231,000. Herald Investment Management Ltd grew its holdings in shares of Ballard Power Systems by 102.5% in the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 324,000 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Ballard Power Systems by 49.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after purchasing an additional 30,694 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Ballard Power Systems by 38.8% in the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after purchasing an additional 39,370 shares during the period. 3.76% 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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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