Ballard Power Systems, Inc. (BLDP) Receives Buy Rating from B. Riley
BLDP has been the subject of a number of other reports. Cowen and Company reaffirmed a hold rating on shares of Ballard Power Systems in a research note on Friday. HC Wainwright reaffirmed a buy rating and issued a $6.00 price target on shares of Ballard Power Systems in a research note on Friday. Zacks Investment Research lowered shares of Ballard Power Systems from a buy rating to a hold rating in a research note on Monday. FBR & Co reaffirmed a buy rating and issued a $6.00 price target on shares of Ballard Power Systems in a research note on Friday, October 27th. Finally, Roth Capital set a $5.00 price target on shares of Ballard Power Systems and gave the stock a hold rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.40.
Ballard Power Systems (NASDAQ:BLDP) traded up $0.22 during midday trading on Friday, reaching $5.86. 3,012,206 shares of the company’s stock traded hands, compared to its average volume of 2,460,000. Ballard Power Systems has a 1 year low of $1.61 and a 1 year high of $5.93.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.36%. The firm had revenue of $31.90 million during the quarter, compared to analysts’ expectations of $28.33 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. Ballard Power Systems’s quarterly revenue was up 54.9% on a year-over-year basis. sell-side analysts forecast that Ballard Power Systems will post -0.05 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in Ballard Power Systems by 16.9% during the second 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. KCG Holdings Inc. lifted its stake in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after purchasing an additional 140,603 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ballard Power Systems during the second quarter valued at approximately $105,000. First Manhattan Co. acquired a new stake in Ballard Power Systems during the third quarter valued at approximately $126,000. Finally, Renaissance Technologies LLC lifted its stake in Ballard Power Systems by 483.1% during the first 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. 2.82% of the stock is owned by institutional investors and hedge funds.
Ballard Power Systems Company Profile
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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