Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Average Recommendation of “Reduce” by Analysts

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus rating of “Reduce” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.50.

BLDP has been the topic of a number of research analyst reports. ATB Cormark Capital Markets boosted their price target on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Zacks Research lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. TD Cowen boosted their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $2.40 on Monday. The stock’s 50-day simple moving average is $3.13 and its 200-day simple moving average is $3.23. Ballard Power Systems has a 52 week low of $1.83 and a 52 week high of $6.57. The company has a market capitalization of $723.62 million, a price-to-earnings ratio of -9.23 and a beta of 2.29. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%.The business had revenue of $20.34 million for the quarter, compared to analysts’ expectations of $25.24 million. As a group, analysts expect that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position in shares of Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Ballard Power Systems in the fourth quarter worth about $26,000. Ground Swell Capital LLC purchased a new stake in shares of Ballard Power Systems in the first quarter worth about $26,000. Intesa Sanpaolo S.p.A. purchased a new stake in shares of Ballard Power Systems in the fourth quarter worth about $28,000. Finally, Cetera Investment Advisers bought a new position in Ballard Power Systems during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.