Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Consensus Rating of “Reduce” by Analysts

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Reduce” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $1.5136.

Several research firms recently weighed in on BLDP. Susquehanna increased their price target on Ballard Power Systems from $1.30 to $2.00 and gave the company a “neutral” rating in a report on Monday, July 21st. BMO Capital Markets increased their price target on Ballard Power Systems from $1.00 to $1.10 and gave the company an “underperform” rating in a report on Tuesday, August 12th. Wells Fargo & Company increased their price target on Ballard Power Systems from $1.00 to $1.50 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Roth Capital increased their price target on Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a report on Monday, August 11th. Finally, Lake Street Capital downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 11th.

Ballard Power Systems Stock Down 3.0%

Shares of BLDP opened at $2.87 on Friday. The stock has a market capitalization of $862.66 million, a price-to-earnings ratio of -2.90 and a beta of 1.80. Ballard Power Systems has a 1 year low of $1.00 and a 1 year high of $3.17. The business’s 50 day simple moving average is $2.15 and its 200-day simple moving average is $1.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The company had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. As a group, equities analysts expect that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its stake in shares of Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after purchasing an additional 5,482 shares during the last quarter. Alps Advisors Inc. raised its position in Ballard Power Systems by 2.1% during the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company’s stock valued at $437,000 after acquiring an additional 8,265 shares in the last quarter. Amundi raised its position in Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. Mackenzie Financial Corp raised its position in Ballard Power Systems by 8.5% during the first quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company’s stock valued at $136,000 after acquiring an additional 9,626 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after acquiring an additional 13,094 shares in the last quarter. Institutional investors own 28.02% 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 (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.