Analysts Set Ballard Power Systems, Inc. (NASDAQ:BLDP) Price Target at $3.50

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the fifteen brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.50.

Several brokerages have recently commented on BLDP. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. National Bank Financial set a $4.75 target price on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Finally, Susquehanna dropped their price target on Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $2.21 on Friday. The company has a market capitalization of $775.91 million, a price-to-earnings ratio of -8.50 and a beta of 2.26. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.92 and a twelve month high of $6.57. The stock has a fifty day simple moving average of $2.64 and a 200 day simple moving average of $3.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Sell-side analysts expect that Ballard Power Systems will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its position in shares of 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 acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd bought a new position in Ballard Power Systems in the 4th quarter valued at about $26,000. Ground Swell Capital LLC bought a new position in Ballard Power Systems in the 1st quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new position in Ballard Power Systems during the 4th quarter valued at about $28,000. Finally, Cetera Investment Advisers acquired a new position in Ballard Power Systems during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology converts hydrogen and oxygen into electricity, with water and heat as byproducts, offering an alternative to conventional power systems for applications that require low-emission operation.

The company focuses primarily on heavy-duty mobility markets, including transit buses, commercial trucks, trains, and marine vessels. Ballard also supplies fuel cell products for stationary power applications and provides related engineering, integration, service, and support capabilities.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners in North America, Europe, Asia, and other international markets.