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

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $3.5250.

Several research firms have commented on BLDP. TD Cowen raised their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Friday, July 17th. Zacks Research upgraded shares of Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. Finally, Susquehanna cut their target price on Ballard Power Systems from $4.25 to $3.50 and set a “neutral” rating for the company in a research report on Friday, July 10th.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Ballard Power Systems by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 692,201 shares of the technology company’s stock valued at $1,883,000 after buying an additional 215,954 shares in the last quarter. Leonteq Securities AG bought a new stake in Ballard Power Systems in the fourth quarter worth about $319,000. GSA Capital Partners LLP raised its position in Ballard Power Systems by 108.5% in the fourth quarter. GSA Capital Partners LLP now owns 709,304 shares of the technology company’s stock worth $1,802,000 after acquiring an additional 369,137 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Ballard Power Systems in the 1st quarter valued at about $548,000. Finally, BNP Paribas Financial Markets lifted its holdings in Ballard Power Systems by 204.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock valued at $10,145,000 after acquiring an additional 2,682,355 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of BLDP opened at $2.87 on Thursday. The firm has a market capitalization of $865.25 million, a price-to-earnings ratio of -10.63 and a beta of 2.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. Ballard Power Systems has a one year low of $1.70 and a one year high of $6.57. The stock’s fifty day moving average is $4.19 and its 200-day moving average is $3.24.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Equities analysts anticipate that Ballard Power Systems will post -0.16 EPS for the current year.

About Ballard Power Systems

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.