Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) PT at $3.51

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average recommendation of “Reduce” by the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.5083.

Several brokerages have recently weighed in on BLDP. Raymond James Financial boosted their target price on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. ATB Cormark Capital Markets lifted their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. BMO Capital Markets upped their target price on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $5.00 in a research note on Tuesday, May 5th.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds have recently modified their holdings of BLDP. Rockefeller Capital Management L.P. raised its stake in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 6,952 shares during the period. Swiss Life Asset Management Ltd acquired a new position in Ballard Power Systems in the 4th quarter valued at about $26,000. Ground Swell Capital LLC purchased a new stake in shares of Ballard Power Systems in the 1st quarter valued at approximately $26,000. Intesa Sanpaolo S.p.A. acquired a new stake in shares of Ballard Power Systems during the 4th quarter worth approximately $28,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Ballard Power Systems during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $4.45 on Friday. The firm has a 50-day simple moving average of $2.96 and a 200-day simple moving average of $2.78. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -16.48 and a beta of 1.94. Ballard Power Systems has a 52 week low of $1.24 and a 52 week high of $4.86.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. On average, equities analysts predict that Ballard Power Systems will post -0.19 earnings per share for the current fiscal year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.