Ballard Power Systems Inc. (NASDAQ:BLDP) Given Average Rating of “Hold” by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) has been given a consensus rating of “Hold” by the nineteen analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.13.

Several brokerages have recently issued reports on BLDP. Zacks Investment Research downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, January 24th. National Bankshares reduced their price objective on shares of Ballard Power Systems from $20.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, March 15th. TD Securities reduced their price objective on shares of Ballard Power Systems from $20.00 to $17.00 and set a “speculative buy” rating for the company in a report on Tuesday, March 15th. KeyCorp initiated coverage on shares of Ballard Power Systems in a report on Wednesday, January 5th. They issued a “sector weight” rating for the company. Finally, BMO Capital Markets downgraded shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $23.00 to $10.00 in a report on Monday, February 7th.

Ballard Power Systems stock opened at $8.84 on Monday. The company has a market cap of $2.63 billion, a PE ratio of -23.26 and a beta of 1.55. The company has a fifty day moving average price of $10.78 and a two-hundred day moving average price of $12.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.78 and a quick ratio of 14.16. Ballard Power Systems has a 12 month low of $8.31 and a 12 month high of $23.13.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last announced its quarterly earnings results on Friday, March 11th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Ballard Power Systems had a negative net margin of 109.29% and a negative return on equity of 8.33%. The firm had revenue of $36.71 million for the quarter, compared to analyst estimates of $28.84 million. Equities research analysts anticipate that Ballard Power Systems will post -0.46 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in BLDP. BlackRock Inc. grew its stake in Ballard Power Systems by 918.3% during the 3rd quarter. BlackRock Inc. now owns 5,784,250 shares of the technology company’s stock valued at $81,268,000 after acquiring an additional 5,216,236 shares in the last quarter. Norges Bank purchased a new position in Ballard Power Systems during the 4th quarter valued at about $26,666,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ballard Power Systems by 154.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,102,655 shares of the technology company’s stock valued at $26,414,000 after acquiring an additional 1,275,124 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Ballard Power Systems by 291.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,668,379 shares of the technology company’s stock valued at $23,414,000 after acquiring an additional 1,242,000 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in Ballard Power Systems during the 3rd quarter valued at about $9,540,000. 34.70% of the stock is currently owned by institutional investors.

About Ballard Power Systems (Get Rating)

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.

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