Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Consensus Rating of “Reduce” from Brokerages

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has earned a consensus recommendation of “Reduce” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $2.09.

BLDP has been the subject of a number of research reports. National Bank Financial upgraded shares of Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. UBS Group dropped their price target on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Ballard Power Systems to a “sell” rating in a report on Thursday, May 8th. Citigroup reaffirmed a “sell” rating and issued a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Finally, Susquehanna lowered their price objective on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems in the fourth quarter worth approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ballard Power Systems by 16.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 980,067 shares of the technology company’s stock worth $1,629,000 after purchasing an additional 134,991 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ballard Power Systems by 71.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock valued at $1,695,000 after buying an additional 425,374 shares during the last quarter. National Bank of Canada FI lifted its holdings in Ballard Power Systems by 14.7% during the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock worth $120,000 after purchasing an additional 9,287 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Ballard Power Systems in the 4th quarter worth about $52,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

BLDP stock opened at $1.84 on Friday. The stock has a market capitalization of $551.72 million, a PE ratio of -1.80 and a beta of 1.71. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $2.48. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $1.55 and its 200 day simple moving average is $1.41.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The business had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. As a group, research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

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.