Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also issued reports on BLDP. FBR & Co reiterated an “outperform” rating and issued a $3.50 price target (up previously from $3.00) on shares of Ballard Power Systems in a research note on Monday, May 1st. Zacks Investment Research lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Finally, Roth Capital lowered Ballard Power Systems from a “buy” rating to a “neutral” rating and set a $3.00 price target on the stock. in a research note on Thursday, May 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $3.42.

Ballard Power Systems (NASDAQ BLDP) traded down 2.14% during trading on Friday, reaching $2.74. The company’s stock had a trading volume of 1,148,952 shares. The company’s 50 day moving average price is $2.82 and its 200-day moving average price is $2.34. The stock’s market cap is $482.34 million. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.48.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, May 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). Ballard Power Systems had a negative return on equity of 11.55% and a negative net margin of 15.26%. The company had revenue of $22.70 million for the quarter, compared to analyst estimates of $23.27 million. During the same quarter last year, the company posted ($0.06) EPS. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. Equities analysts forecast that Ballard Power Systems will post ($0.06) earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of BLDP. Bluestein R H & Co. raised 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 in the last quarter. Renaissance Technologies LLC raised 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 in the last quarter. Finally, KCG Holdings Inc. raised 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 in the last quarter. Institutional investors and hedge funds own 2.54% of the company’s stock.

About Ballard Power Systems

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.

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