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

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average recommendation of “Reduce” by the fourteen analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $2.4125.

BLDP has been the subject of a number of recent analyst reports. TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price for the company in a research report on Friday, January 9th. TD Cowen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd grew its holdings in Ballard Power Systems by 122.7% during the 2nd quarter. Quadrature Capital Ltd now owns 629,000 shares of the technology company’s stock worth $998,000 after acquiring an additional 346,500 shares during the period. Legal & General Group Plc raised its position in shares of Ballard Power Systems by 104.2% in the 2nd quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company’s stock worth $20,977,000 after acquiring an additional 6,701,756 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Ballard Power Systems by 15.9% in the 2nd quarter. SG Americas Securities LLC now owns 169,622 shares of the technology company’s stock valued at $270,000 after purchasing an additional 23,252 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Ballard Power Systems by 24.4% in the 4th quarter. Hsbc Holdings PLC now owns 151,574 shares of the technology company’s stock valued at $385,000 after purchasing an additional 29,699 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 2.0%

Shares of BLDP stock opened at $2.46 on Friday. The stock has a market cap of $739.94 million, a price-to-earnings ratio of -8.20 and a beta of 1.78. The stock has a 50-day moving average of $2.33 and a 200-day moving average of $2.72. The company has a current ratio of 9.86, a quick ratio of 9.14 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $33.28 million during the quarter, compared to the consensus estimate of $32.24 million. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%. On average, equities research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

About Ballard Power Systems

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.