Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by stock analysts at Roth Capital from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has a $20.00 target price on the technology company’s stock, up from their prior target price of $10.00. Roth Capital’s target price points to a potential upside of 29.87% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, June 15th. TD Securities initiated coverage on shares of Ballard Power Systems in a research note on Thursday, June 18th. They issued a “hold” rating and a $14.00 target price for the company. ValuEngine lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Ballard Power Systems in a report on Thursday, May 7th. Finally, Lake Street Capital lifted their price objective on Ballard Power Systems from $6.00 to $13.00 and gave the company a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.85.

Shares of BLDP opened at $15.40 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.89 and a current ratio of 4.43. Ballard Power Systems has a fifty-two week low of $3.92 and a fifty-two week high of $15.99. The firm has a 50-day simple moving average of $11.82 and a 200-day simple moving average of $9.89. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -90.59 and a beta of 1.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Ballard Power Systems had a negative net margin of 35.47% and a negative return on equity of 15.28%. The company had revenue of $24.00 million for the quarter, compared to analysts’ expectations of $26.00 million. Equities research analysts forecast that Ballard Power Systems will post -0.18 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. acquired a new position in shares of Ballard Power Systems during the 1st quarter worth $25,000. Optimum Investment Advisors acquired a new stake in shares of Ballard Power Systems in the first quarter valued at about $30,000. Financial Management Professionals Inc. purchased a new stake in Ballard Power Systems during the first quarter worth about $38,000. Legal & General Group Plc grew its position in Ballard Power Systems by 23.4% during the first quarter. Legal & General Group Plc now owns 6,339 shares of the technology company’s stock worth $48,000 after buying an additional 1,202 shares during the period. Finally, Deutsche Bank AG grew its position in Ballard Power Systems by 1,896.1% during the first quarter. Deutsche Bank AG now owns 12,775 shares of the technology company’s stock worth $97,000 after buying an additional 12,135 shares during the period. Institutional investors own 6.60% of the company’s stock.

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.

Further Reading: Neutral Rating

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