Ballard Power Systems (NASDAQ:BLDP) Lifted to “Speculative Buy” at TD Securities

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TD Securities upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a hold rating to a speculative buy rating in a research report report published on Monday, BayStreet.CA reports. TD Securities currently has $20.00 price target on the technology company’s stock, up from their previous price target of $14.00.

Several other research analysts have also weighed in on BLDP. ValuEngine lowered shares of Ballard Power Systems from a buy rating to a hold rating in a research note on Friday, May 1st. Roth Capital increased their price target on shares of Ballard Power Systems from $20.00 to $25.00 and gave the stock a buy rating in a research report on Monday, July 13th. Raymond James set a $28.00 price target on shares of Ballard Power Systems and gave the stock an outperform rating in a research report on Monday, August 10th. Zacks Investment Research raised shares of Ballard Power Systems from a sell rating to a hold rating in a research report on Wednesday, July 8th. Finally, BidaskClub cut shares of Ballard Power Systems from a buy rating to a hold rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $19.32.

Shares of BLDP stock opened at $15.06 on Monday. The company has a quick ratio of 3.92, a current ratio of 4.56 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $16.73 and a two-hundred day moving average of $12.01. Ballard Power Systems has a 1-year low of $4.25 and a 1-year high of $21.61.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Wednesday, August 5th. The technology company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The company had revenue of $25.82 million for the quarter, compared to analysts’ expectations of $27.22 million. Ballard Power Systems had a negative return on equity of 16.53% and a negative net margin of 38.64%. As a group, analysts expect that Ballard Power Systems will post -0.18 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Ballard Power Systems by 23.4% in the first quarter. Legal & General Group Plc now owns 6,339 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,202 shares in the last quarter. US Bancorp DE raised its holdings in Ballard Power Systems by 12.8% in the second quarter. US Bancorp DE now owns 13,200 shares of the technology company’s stock valued at $204,000 after acquiring an additional 1,500 shares in the last quarter. Swiss National Bank raised its holdings in Ballard Power Systems by 0.5% in the second quarter. Swiss National Bank now owns 366,600 shares of the technology company’s stock valued at $5,603,000 after acquiring an additional 1,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ballard Power Systems by 3.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,465 shares of the technology company’s stock valued at $1,074,000 after acquiring an additional 2,438 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Ballard Power Systems by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 183,454 shares of the technology company’s stock valued at $1,310,000 after acquiring an additional 2,802 shares in the last quarter. 6.34% of the stock is currently owned by hedge funds and other institutional investors.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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