Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives $2.33 Average Target Price from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus recommendation of “Reduce” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and twelve have given a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $2.33.

BLDP has been the subject of several recent research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a report on Friday, November 14th. TD Cowen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th. Roth Mkm reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Ballard Power Systems in a report on Friday, November 14th. UBS Group increased their price target on shares of Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, TD Securities upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research report on Friday, January 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. lifted its holdings in Ballard Power Systems by 125.2% in 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 during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Ballard Power Systems in the third quarter valued at about $43,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Ballard Power Systems by 21.9% during 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 in the last quarter. Daiwa Securities Group Inc. grew its position in Ballard Power Systems by 108.8% during 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 period. Finally, Amundi grew 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 worth $74,000 after buying an additional 9,454 shares during the period. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $2.33 on Thursday. The firm’s fifty day simple moving average is $2.68 and its 200-day simple moving average is $2.64. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $4.10. The stock has a market capitalization of $700.84 million, a price-to-earnings ratio of -5.82 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%.The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $23.76 million. As a group, equities analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current 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.