Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $7.25 Consensus PT from Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) has been given a consensus rating of “Hold” by the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.25.

Several brokerages recently weighed in on BLDP. Truist Financial decreased their price target on Ballard Power Systems from $7.00 to $6.00 in a report on Wednesday. Wells Fargo & Company downgraded Ballard Power Systems from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Friday, January 6th. UBS Group began coverage on Ballard Power Systems in a report on Tuesday, December 13th. They set a “neutral” rating on the stock. National Bankshares reduced their price objective on Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 17th. Finally, Scotiabank initiated coverage on Ballard Power Systems in a research report on Thursday, March 9th. They set a “sector perform” rating and a $7.25 price objective for the company.

Hedge Funds Weigh In On Ballard Power Systems

A number of large investors have recently added to or reduced their stakes in BLDP. JPMorgan Chase & Co. lifted its stake in shares of Ballard Power Systems by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 135,193 shares of the technology company’s stock worth $1,574,000 after buying an additional 5,739 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Ballard Power Systems in the first quarter valued at $393,000. Dimensional Fund Advisors LP purchased a new position in Ballard Power Systems in the 1st quarter worth about $3,379,000. Aviva PLC increased its stake in Ballard Power Systems by 981.9% in the 1st quarter. Aviva PLC now owns 184,341 shares of the technology company’s stock worth $2,149,000 after buying an additional 167,303 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Ballard Power Systems by 38.4% during the 1st quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock valued at $37,855,000 after purchasing an additional 902,351 shares during the period. Hedge funds and other institutional investors own 31.97% of the company’s stock.

Ballard Power Systems Price Performance

NASDAQ:BLDP opened at $4.97 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.44 and a quick ratio of 13.65. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -8.02 and a beta of 1.91. The company has a 50 day moving average price of $5.94 and a 200-day moving average price of $5.98. Ballard Power Systems has a 1-year low of $4.43 and a 1-year high of $12.57.

Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last announced its earnings results on Friday, March 17th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The company had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $25.62 million. Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. The firm’s quarterly revenue was down 44.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) EPS. Equities research analysts forecast that Ballard Power Systems will post -0.61 EPS for the current year.

About Ballard Power Systems

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.