Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have received a consensus rating of “Reduce” from the fourteen analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.97.

A number of research firms have recently weighed in on BLDP. Raymond James lowered their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Citigroup lowered their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Jefferies Financial Group lowered their price target on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Piper Sandler lowered their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Finally, TD Securities lowered their price target on Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, March 12th.

Ballard Power Systems Trading Down 1.1 %

NASDAQ BLDP opened at $2.69 on Friday. Ballard Power Systems has a 1-year low of $2.66 and a 1-year high of $5.68. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $3.01 and a 200-day moving average of $3.33. The firm has a market cap of $805.08 million, a PE ratio of -4.56 and a beta of 1.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The company had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. During the same period last year, the firm posted ($0.12) EPS. The company’s revenue was up 131.7% on a year-over-year basis. As a group, sell-side analysts forecast that Ballard Power Systems will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BLDP. Swiss National Bank grew its stake in shares of Ballard Power Systems by 1.9% in the 3rd quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock worth $1,967,000 after buying an additional 10,100 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after buying an additional 148,321 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Ballard Power Systems by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock worth $2,005,000 after buying an additional 4,677 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ballard Power Systems in the 4th quarter worth approximately $373,000. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of Ballard Power Systems in the 3rd quarter worth approximately $48,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.