Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives $1.81 Average PT from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus recommendation of “Reduce” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $2.0045.

BLDP has been the topic of a number of research analyst reports. Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 11th. Zacks Research upgraded shares of Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Susquehanna raised their price objective on shares of Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Finally, Roth Capital increased their target price on Ballard Power Systems from $1.25 to $1.80 and gave the stock a “neutral” rating in a research report on Monday, August 11th.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. raised its position in shares of Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock worth $37,000 after purchasing an additional 13,094 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Ballard Power Systems during the 1st quarter valued at about $40,000. Vanguard Personalized Indexing Management LLC raised its holdings in 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 buying an additional 5,482 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after buying an additional 19,170 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Ballard Power Systems in the first quarter worth approximately $69,000. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Stock Performance

BLDP opened at $3.28 on Tuesday. Ballard Power Systems has a one year low of $1.00 and a one year high of $4.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32. The business has a 50 day simple moving average of $2.65 and a two-hundred day simple moving average of $1.91. The firm has a market capitalization of $985.90 million, a price-to-earnings ratio of -3.31 and a beta of 1.80.

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

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.