Ballard Power Systems (NASDAQ:BLDP) Receives Sector Weight Rating from KeyCorp

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD)‘s stock had its “sector weight” rating reiterated by analysts at KeyCorp in a research note issued on Thursday, Stock Target Advisor reports.

A number of other research firms also recently weighed in on BLDP. BMO Capital Markets downgraded shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $23.00 to $10.00 in a research note on Monday, February 7th. Susquehanna Bancshares boosted their price target on shares of Ballard Power Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, March 10th. National Bankshares dropped their price target on shares of Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 10th. Raymond James decreased their price objective on shares of Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. Finally, B. Riley reduced their price target on shares of Ballard Power Systems from $15.00 to $12.00 in a report on Tuesday, May 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.36.

Shares of BLDP stock opened at $7.10 on Thursday. Ballard Power Systems has a 12-month low of $5.80 and a 12-month high of $19.66. The company has a market capitalization of $2.12 billion, a P/E ratio of -15.43 and a beta of 1.70. The firm has a 50-day moving average price of $9.03 and a 200 day moving average price of $10.87. The company has a quick ratio of 14.61, a current ratio of 15.36 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last announced its earnings results on Monday, May 9th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The company had revenue of $21.00 million during the quarter, compared to the consensus estimate of $24.88 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. As a group, research analysts expect that Ballard Power Systems will post -0.53 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Ballard Power Systems during the first quarter valued at $25,000. Neuberger Berman Group LLC boosted its holdings in shares of Ballard Power Systems by 2.3% in the 1st quarter. Neuberger Berman Group LLC now owns 832,305 shares of the technology company’s stock worth $9,688,000 after purchasing an additional 18,462 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Ballard Power Systems by 54.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 361,480 shares of the technology company’s stock worth $4,208,000 after purchasing an additional 127,386 shares during the period. Advisors Asset Management Inc. boosted its holdings in Ballard Power Systems by 62.3% during the 1st quarter. Advisors Asset Management Inc. now owns 40,746 shares of the technology company’s stock valued at $474,000 after acquiring an additional 15,635 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Ballard Power Systems by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 495,716 shares of the technology company’s stock valued at $5,770,000 after acquiring an additional 105,651 shares during the period. 35.47% of the stock is owned by institutional investors and hedge funds.

About Ballard Power Systems (Get Rating)

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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