Ballard Power Systems (NASDAQ:BLDP) Upgraded to “Strong Sell” at TD Cowen

TD Cowen upgraded shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) to a strong sell rating in a report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Susquehanna lowered their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. CIBC decreased their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Trading Down 6.9 %

NASDAQ:BLDP opened at $1.63 on Monday. Ballard Power Systems has a 1 year low of $1.23 and a 1 year high of $3.66. The stock has a market cap of $488.06 million, a P/E ratio of -1.48 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The stock has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $1.79.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Commonwealth Financial Corp PA acquired a new position in Ballard Power Systems during the 3rd quarter worth approximately $27,000. Scientech Research LLC purchased a new stake in shares of Ballard Power Systems in the second quarter valued at approximately $52,000. Daiwa Securities Group Inc. grew its holdings in Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares during the period. Toronto Dominion Bank raised its position in Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after acquiring an additional 20,949 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Ballard Power Systems in the second quarter valued at $79,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.