Ballard Power Systems, Inc. (BLDP) Receives Hold Rating from Cowen and Company
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “hold” rating reiterated by research analysts at Cowen and Company in a report released on Friday.
Other analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Ballard Power Systems in a research report on Friday. BidaskClub downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Zacks Investment Research downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. FBR & Co reissued a “buy” rating and set a $6.00 price target (up previously from $3.50) on shares of Ballard Power Systems in a research report on Monday, September 18th. Finally, Roth Capital set a $5.00 price target on shares of Ballard Power Systems and gave the stock a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.40.
Shares of Ballard Power Systems (NASDAQ BLDP) traded up $0.57 during trading hours on Friday, reaching $5.64. 5,236,268 shares of the company’s stock traded hands, compared to its average volume of 2,299,535.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.37%. The company had revenue of $31.90 million during the quarter, compared to the consensus estimate of $28.33 million. During the same quarter last year, the company earned ($0.02) earnings per share. Ballard Power Systems’s revenue for the quarter was up 54.9% on a year-over-year basis. research analysts predict that Ballard Power Systems will post -0.05 earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in BLDP. KCG Holdings Inc. boosted its holdings in 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 purchasing an additional 140,603 shares during the period. Renaissance Technologies LLC boosted its holdings in 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 purchasing an additional 137,200 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Ballard Power Systems in the second quarter worth $105,000. First Manhattan Co. acquired a new position in Ballard Power Systems in the third quarter worth $126,000. Finally, First Trust Advisors LP boosted its holdings in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after purchasing an additional 26,314 shares during the period. 2.80% of the stock is 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.
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