Roth Capital Downgrades Ballard Power Systems Inc. (BLDP) to Neutral

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was downgraded by equities researchers at Roth Capital from a “buy” rating to a “neutral” rating in a research report issued on Thursday, May 4th. They presently have a $3.00 price objective on the technology company’s stock. Roth Capital’s price target would suggest a potential upside of 7.91% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. FBR & Co restated a “buy” rating on shares of Ballard Power Systems in a research note on Wednesday, January 25th.

Ballard Power Systems (NASDAQ:BLDP) traded up 4.51% during trading on Thursday, hitting $2.78. 1,113,504 shares of the stock were exchanged. The firm’s 50-day moving average is $2.77 and its 200 day moving average is $2.16. Ballard Power Systems has a 52 week low of $1.23 and a 52 week high of $3.48. The firm’s market cap is $489.38 million.

Ballard Power Systems (NASDAQ:BLDP) last released its quarterly earnings data on Monday, May 1st. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $22.70 million during the quarter, compared to analyst estimates of $23.27 million. Ballard Power Systems had a negative net margin of 28.70% and a negative return on equity of 18.28%. Ballard Power Systems’s revenue was up 39.3% compared to the same quarter last year. During the same period last year, the business earned ($0.06) EPS. Analysts expect that Ballard Power Systems will post ($0.06) earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the stock. KCG Holdings Inc. increased its stake in shares of Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares during the last quarter. Bluestein R H & Co. increased its stake in shares of Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after buying an additional 25,000 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Ballard Power Systems by 8.7% in the third quarter. First Trust Advisors LP now owns 167,485 shares of the technology company’s stock worth $370,000 after buying an additional 13,363 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Ballard Power Systems by 16.7% in the first quarter. Geode Capital Management LLC now owns 89,219 shares of the technology company’s stock worth $197,000 after buying an additional 12,757 shares during the last quarter. 4.83% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

12 Month Chart for NASDAQ:BLDP

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