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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned an average rating of “Reduce” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating and eleven have issued a hold rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.1136.

Several research analysts have recently commented on BLDP shares. Cowen reaffirmed a “sell” rating on shares of Ballard Power Systems in a research note on Friday. UBS Group boosted their price objective on Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Susquehanna raised their target price on shares of Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a research note on Monday, October 13th. HSBC set a $3.40 price target on shares of Ballard Power Systems in a report on Thursday, October 9th. Finally, KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research note on Friday.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors have recently bought and sold shares of BLDP. SBI Securities Co. Ltd. lifted its position in shares of Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after acquiring an additional 13,094 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after purchasing an additional 5,482 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Ballard Power Systems during the 1st quarter valued at approximately $40,000. Daiwa Securities Group Inc. lifted its holdings in Ballard Power Systems by 108.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after purchasing an additional 19,170 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in Ballard Power Systems by 254.7% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 37,392 shares of the technology company’s stock worth $102,000 after purchasing an additional 26,851 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $3.03 on Friday. The company has a 50-day moving average price of $3.13 and a 200-day moving average price of $2.18. Ballard Power Systems has a 52 week low of $1.00 and a 52 week high of $4.10. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $910.76 million, a P/E ratio of -3.06 and a beta of 1.84.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Thursday, November 13th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $23.76 million. Equities research analysts anticipate that Ballard Power Systems will post -0.54 earnings per share for the current year.

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.