Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average rating of “Reduce” by the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $2.09.

Several research analysts have recently commented on BLDP shares. BMO Capital Markets decreased their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a report on Friday, March 14th. Wells Fargo & Company set a $1.00 target price on Ballard Power Systems in a report on Thursday, March 13th. Citigroup reiterated a “sell” rating and set a $1.00 target price (down previously from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. National Bank Financial raised Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. Finally, Wall Street Zen raised Ballard Power Systems to a “sell” rating in a research report on Thursday, May 8th.

Ballard Power Systems Trading Down 12.3%

Shares of BLDP stock opened at $1.57 on Wednesday. The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $1.34 and a two-hundred day moving average price of $1.40. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $2.82. The firm has a market cap of $470.76 million, a P/E ratio of -1.54 and a beta of 1.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $14.76 million for the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. Equities analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Ballard Power Systems during the 4th quarter valued at $27,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Ballard Power Systems in the 1st quarter worth $40,000. Headlands Technologies LLC purchased a new stake in shares of Ballard Power Systems in the 4th quarter worth $52,000. Virtu Financial LLC purchased a new stake in shares of Ballard Power Systems in the 1st quarter worth $69,000. Finally, Amundi increased its stake in shares of Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

About Ballard Power Systems

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.