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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given a consensus rating of “Reduce” by the seventeen ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2.2050.

Several research analysts recently issued reports on the stock. Cowen reissued a “sell” rating on shares of Ballard Power Systems in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, October 8th. Susquehanna raised their target price on Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a research note on Monday, October 13th. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Finally, HSBC set a $3.40 price target on Ballard Power Systems in a report on Thursday, October 9th.

Ballard Power Systems Trading Up 0.7%

NASDAQ BLDP opened at $2.73 on Friday. The stock has a market capitalization of $821.02 million, a P/E ratio of -6.82 and a beta of 1.65. The business has a 50 day simple moving average of $2.87 and a 200 day simple moving average of $2.53. 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 has a one year low of $1.00 and a one year high of $4.10.

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

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of BLDP. Vanguard Personalized Indexing Management LLC lifted its stake in shares of 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 valued at $48,000 after buying an additional 5,482 shares in the last quarter. Amundi increased its position in shares of 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 acquiring an additional 9,454 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings 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 acquiring an additional 13,094 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Ballard Power Systems in the 3rd quarter valued at about $43,000. Finally, Mackenzie Financial Corp boosted its stake in Ballard Power Systems by 12.4% during the 3rd quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock valued at $397,000 after purchasing an additional 16,204 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

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.