Ballard Power Systems, Inc. (BLDP) Given a $6.00 Price Target by B. Riley Analysts
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a $6.00 price objective by equities researchers at B. Riley in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target points to a potential upside of 23.46% from the stock’s previous close.
A number of other research firms have also recently weighed in on BLDP. Cowen and Company reaffirmed a “hold” rating and set a $4.50 price target on shares of Ballard Power Systems in a report on Tuesday, October 17th. Roth Capital set a $3.00 price target on Ballard Power Systems and gave the company a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Tuesday, August 8th. FBR & Co reaffirmed a “buy” rating on shares of Ballard Power Systems in a report on Wednesday, September 6th. Finally, BidaskClub cut Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.50.
Ballard Power Systems (BLDP) traded down $0.25 on Tuesday, hitting $4.86. The stock had a trading volume of 2,126,600 shares, compared to its average volume of 1,679,349. The company has a current ratio of 2.70, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. Ballard Power Systems has a 52 week low of $1.61 and a 52 week high of $5.93.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The company had revenue of $31.90 million for the quarter, compared to analysts’ expectations of $28.33 million. Ballard Power Systems had a negative return on equity of 4.36% and a negative net margin of 5.57%. The business’s revenue for the quarter was up 54.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. analysts anticipate that Ballard Power Systems will post -0.05 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in the stock. Bluestein R H & Co. raised its holdings in Ballard Power Systems by 11.2% during the third quarter. Bluestein R H & Co. now owns 233,000 shares of the technology company’s stock worth $1,090,000 after purchasing an additional 23,500 shares in the last quarter. PEAK6 Investments L.P. lifted its stake in shares of Ballard Power Systems by 556.3% in the 3rd quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 183,921 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after purchasing an additional 26,314 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after purchasing an additional 137,200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ballard Power Systems in the 2nd quarter valued at $105,000. 2.78% of the stock is currently owned by hedge funds and other institutional investors.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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