Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Roth Capital cut Ballard Power Systems from a “buy” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a research note on Thursday, May 4th. Finally, FBR & Co boosted their price objective on Ballard Power Systems from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $3.42.

Shares of Ballard Power Systems (NASDAQ BLDP) traded down 1.37% during midday trading on Friday, reaching $2.88. The company had a trading volume of 696,502 shares. The firm’s market capitalization is $506.98 million. Ballard Power Systems has a 52 week low of $1.23 and a 52 week high of $3.48. The stock has a 50-day moving average of $2.82 and a 200 day moving average of $2.34.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, May 1st. The technology company reported ($0.02) earnings per share for the quarter, hitting 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 analysts’ expectations of $23.27 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. On average, analysts anticipate that Ballard Power Systems will post ($0.06) earnings per share for the current year.

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A number of large investors have recently modified their holdings of BLDP. KCG Holdings Inc. boosted 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 valued at $454,000 after buying an additional 140,603 shares during the last quarter. Renaissance Technologies LLC raised its position 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 valued at $368,000 after buying an additional 137,200 shares during the period. Finally, Bluestein R H & Co. raised its position 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 valued at $500,000 after buying an additional 25,000 shares during the period. 2.54% of the stock is currently owned by institutional investors.

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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