Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) received a $6.00 price objective from research analysts at B. Riley in a report issued on Friday. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s price target suggests a potential upside of 42.52% from the company’s previous close.
Several other equities analysts have also recently issued reports on BLDP. BidaskClub cut Ballard Power Systems from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Ballard Power Systems in a research report on Tuesday, September 26th. Cowen restated a “hold” rating on shares of Ballard Power Systems in a research report on Friday, November 3rd. Finally, Roth Capital set a $5.00 price target on Ballard Power Systems and gave the company a “hold” rating in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.50.
Ballard Power Systems (NASDAQ:BLDP) opened at $4.21 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.70. Ballard Power Systems has a 12 month low of $1.71 and a 12 month high of $5.93. The stock has a market capitalization of $774.70, a P/E ratio of -84.20 and a beta of 2.51.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results 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 return on equity of 4.36% and a negative net margin of 5.57%. The firm had revenue of $31.90 million for the quarter, compared to analysts’ expectations of $28.33 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The business’s revenue was up 54.9% compared to the same quarter last year. sell-side analysts anticipate that Ballard Power Systems will post -0.04 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bluestein R H & Co. boosted its holdings in Ballard Power Systems by 11.2% in the third quarter. Bluestein R H & Co. now owns 233,000 shares of the technology company’s stock worth $1,090,000 after acquiring an additional 23,500 shares in the last quarter. PEAK6 Investments L.P. boosted its holdings in Ballard Power Systems by 556.3% in the third quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock worth $1,015,000 after acquiring an additional 183,921 shares in the last quarter. 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 acquiring an additional 26,314 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ballard Power Systems in the second quarter worth $105,000. Finally, Jane Street Group LLC bought a new stake in Ballard Power Systems in the third quarter worth $141,000. Institutional investors own 3.06% of the company’s stock.
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About Ballard Power Systems
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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