Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) Price Target at $2.33

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have received an average recommendation of “Reduce” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.33.

BLDP has been the topic of several recent analyst reports. Roth Mkm restated a “neutral” rating and set a $3.00 price objective on shares of Ballard Power Systems in a research note on Friday, November 14th. UBS Group increased their target price on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Susquehanna boosted their price target on shares of Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a report on Monday, October 13th. TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research report on Friday, January 9th. Finally, TD Cowen raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its position in shares of Ballard Power Systems by 125.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after purchasing an additional 13,094 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Ballard Power Systems during the third quarter valued at about $43,000. Vanguard Personalized Indexing Management LLC increased its holdings in Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after buying an additional 5,482 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after buying an additional 19,170 shares during the last quarter. Finally, Amundi raised its position in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after acquiring an additional 9,454 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 0.9%

NASDAQ:BLDP opened at $2.31 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. Ballard Power Systems has a one year low of $1.00 and a one year high of $4.10. The company has a market cap of $694.82 million, a PE ratio of -5.77 and a beta of 1.75. The firm has a 50-day moving average of $2.67 and a 200-day moving average of $2.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $32.66 million during the quarter, compared to the consensus estimate of $23.76 million. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%. As a group, equities research analysts expect that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

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.