Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $3.11 Average PT from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given a consensus recommendation of “Reduce” by the sixteen research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.11.

BLDP has been the subject of several research analyst reports. Truist Financial dropped their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group dropped their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Cibc World Mkts downgraded shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their target price for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, CIBC reissued an “underperformer” rating and issued a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th.

Ballard Power Systems Trading Down 4.6 %

Shares of BLDP opened at $1.67 on Monday. Ballard Power Systems has a twelve month low of $1.61 and a twelve month high of $4.02. The stock has a market cap of $499.98 million, a PE ratio of -2.69 and a beta of 1.78. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.51.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. On average, equities analysts forecast that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors have recently bought and sold shares of BLDP. Van ECK Associates Corp increased its stake in Ballard Power Systems by 8.8% in the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after purchasing an additional 186,833 shares during the period. Rafferty Asset Management LLC raised its holdings in Ballard Power Systems by 49.5% during the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock valued at $2,642,000 after buying an additional 236,449 shares during the last quarter. TD Asset Management Inc boosted its position in Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Ballard Power Systems by 7.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock worth $1,572,000 after acquiring an additional 38,662 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Ballard Power Systems by 25.0% in the fourth quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 100,700 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.