Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) have earned an average rating of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.38.

A number of equities research analysts have recently weighed in on BLDP shares. National Bankshares dropped their price target on shares of Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. Cowen boosted their price objective on shares of Ballard Power Systems to $9.00 in a research report on Monday, August 15th. Raymond James downgraded shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $9.00 to $10.00 in a research report on Wednesday, August 10th. Piper Sandler started coverage on shares of Ballard Power Systems in a research report on Wednesday, June 8th. They set a “sell” rating and a $5.00 price objective for the company. Finally, KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a research report on Thursday, June 2nd.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $6.96 on Thursday. The stock’s fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.31. The company has a market capitalization of $2.08 billion, a PE ratio of -12.00 and a beta of 1.76. The company has a current ratio of 15.16, a quick ratio of 14.36 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 12 month low of $5.75 and a 12 month high of $19.66.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last announced its quarterly earnings data on Wednesday, August 10th. The technology company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Ballard Power Systems had a negative net margin of 164.44% and a negative return on equity of 12.13%. The company had revenue of $20.90 million during the quarter, compared to the consensus estimate of $24.16 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Ballard Power Systems’s revenue was down 16.4% on a year-over-year basis. On average, research analysts predict that Ballard Power Systems will post -0.61 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently modified their holdings of BLDP. Millennium Management LLC lifted its holdings in Ballard Power Systems by 580.6% in the second quarter. Millennium Management LLC now owns 3,352,040 shares of the technology company’s stock valued at $21,140,000 after buying an additional 2,859,528 shares during the period. Renaissance Technologies LLC acquired a new position in Ballard Power Systems in the first quarter valued at $25,988,000. Legal & General Group Plc lifted its holdings in Ballard Power Systems by 40.3% in the second quarter. Legal & General Group Plc now owns 3,157,100 shares of the technology company’s stock valued at $25,067,000 after buying an additional 906,705 shares during the period. Allianz Asset Management GmbH lifted its holdings in Ballard Power Systems by 38.4% in the first quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock valued at $37,855,000 after buying an additional 902,351 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ballard Power Systems by 53.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,032,240 shares of the technology company’s stock valued at $23,655,000 after buying an additional 704,218 shares during the period. Institutional investors own 28.25% of the company’s stock.

Ballard Power Systems Company Profile

(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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