Ballard Power Systems, Inc. (NASDAQ:BLDP) Stock Has Average Price Target of $3.39 According to Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned an average rating of “Reduce” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy 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 $3.39.

A number of brokerages have weighed in on BLDP. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target on the stock in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. National Bank Financial set a $4.75 target price on shares of Ballard Power Systems and gave the company a “sector perform” rating in a report on Wednesday, June 24th. Finally, Susquehanna decreased their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, August 10th.

Ballard Power Systems Stock Performance

Ballard Power Systems stock opened at $1.94 on Tuesday. The stock’s 50-day moving average is $2.31 and its 200-day moving average is $3.23. The company has a market cap of $681.54 million, a price-to-earnings ratio of -7.46 and a beta of 2.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. Ballard Power Systems has a 12 month low of $1.92 and a 12 month high of $6.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $20.34 million during 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%. Equities analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLDP. Rockefeller Capital Management L.P. raised its holdings 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 buying an additional 6,952 shares during the period. Ground Swell Capital LLC acquired a new position in Ballard Power Systems during the 1st quarter worth approximately $26,000. Farringdon Capital Ltd. purchased a new position in Ballard Power Systems in the 2nd quarter worth approximately $41,000. Cetera Investment Advisers purchased a new position in Ballard Power Systems in the 1st quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Ballard Power Systems by 422.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after acquiring an additional 12,149 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.