Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Target Price at $12.77

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) has received a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.77.

A number of brokerages recently issued reports on BLDP. Raymond James decreased their price objective on Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. National Bankshares decreased their price objective on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. Piper Sandler began coverage on Ballard Power Systems in a report on Wednesday, June 8th. They issued a “sell” rating and a $5.00 price objective for the company. B. Riley decreased their price target on Ballard Power Systems from $15.00 to $12.00 in a research note on Tuesday, May 10th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a research note on Thursday, June 2nd.

Ballard Power Systems Stock Up 0.5 %

Shares of Ballard Power Systems stock opened at $8.77 on Wednesday. The company has a current ratio of 15.36, a quick ratio of 14.61 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $7.00 and its 200-day simple moving average is $8.77. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -19.06 and a beta of 1.77. Ballard Power Systems has a twelve month low of $5.75 and a twelve month high of $19.66.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its quarterly earnings data on Monday, May 9th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $24.88 million. During the same period last year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Ballard Power Systems will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the stock. Fortitude Advisory Group L.L.C. bought a new stake in shares of Ballard Power Systems during the 1st quarter worth $25,000. Millburn Ridgefield Corp lifted its holdings in shares of Ballard Power Systems by 238.0% in the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,116 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Ballard Power Systems by 238.0% in the first quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,116 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Ballard Power Systems in the fourth quarter valued at $58,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Ballard Power Systems by 67.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,374 shares of the technology company’s stock valued at $80,000 after purchasing an additional 2,570 shares in the last quarter. 35.47% of the stock is owned by institutional investors.

About Ballard Power Systems

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Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

Further Reading

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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