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

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have received a consensus rating of “Reduce” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $2.09.

Several equities research analysts have commented on the stock. National Bank Financial upgraded shares of Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. UBS Group decreased their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Citigroup restated a “sell” rating and set a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Wall Street Zen upgraded shares of Ballard Power Systems to a “sell” rating in a research report on Thursday, May 8th. Finally, Susquehanna decreased their target price on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.87 on Friday. The firm’s fifty day moving average price is $1.50 and its 200 day moving average price is $1.41. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $2.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.00 and a quick ratio of 8.13. The firm has a market cap of $560.72 million, a price-to-earnings ratio of -1.83 and a beta of 1.71.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. The firm had revenue of $14.76 million for the quarter, compared to analyst estimates of $16.82 million. On average, sell-side analysts expect that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Ballard Power Systems during the 4th quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ballard Power Systems by 16.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 980,067 shares of the technology company’s stock worth $1,629,000 after acquiring an additional 134,991 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ballard Power Systems by 71.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock worth $1,695,000 after acquiring an additional 425,374 shares during the period. National Bank of Canada FI lifted its holdings in shares of Ballard Power Systems by 14.7% during the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock worth $120,000 after acquiring an additional 9,287 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the 4th quarter worth about $52,000. 28.02% of the stock is currently owned by hedge funds and other 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.