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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus recommendation of “Reduce” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.33.

A number of research firms recently weighed in on BLDP. TD Securities raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price target on the stock in a research note on Friday, January 9th. Zacks Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a report on Friday, November 14th. UBS Group boosted their price target on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Susquehanna upped their price objective on shares of Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a report on Monday, October 13th.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its stake in 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 valued at $48,000 after buying an additional 5,482 shares during the last quarter. Amundi increased its holdings in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Ballard Power Systems by 125.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock worth $37,000 after purchasing an additional 13,094 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Ballard Power Systems in the 3rd quarter worth about $43,000. Finally, Mackenzie Financial Corp grew its position in Ballard Power Systems by 12.4% during the 3rd quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock valued at $397,000 after purchasing an additional 16,204 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Up 0.4%

NASDAQ:BLDP opened at $2.58 on Thursday. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $4.10. The company has a current ratio of 8.33, a quick ratio of 7.53 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $776.04 million, a price-to-earnings ratio of -6.45 and a beta of 1.65. The firm has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $2.63.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $23.76 million. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. Analysts expect that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.