Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.92 Average Target Price from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has earned an average rating of “Reduce” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $2.92.

A number of research analysts have recently commented on BLDP shares. Raymond James lowered their target price on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Susquehanna decreased their price target on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company cut their price objective on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. CIBC reissued an “underperformer” rating and set a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. Finally, BMO Capital Markets cut their price target on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a report on Tuesday, August 13th.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.63 on Friday. The business’s 50-day moving average price is $1.78 and its 200-day moving average price is $2.36. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.60 and a 12 month high of $4.02. The firm has a market capitalization of $488.01 million, a PE ratio of -2.63 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. Sell-side analysts forecast that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. TD Asset Management Inc increased its position in shares of Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after acquiring an additional 8,154 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after purchasing an additional 8,549 shares during the period. Endowment Wealth Management Inc. purchased a new stake in Ballard Power Systems during the 1st quarter worth about $28,000. Tidal Investments LLC purchased a new stake in Ballard Power Systems during the 1st quarter worth about $39,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after buying an additional 14,415 shares during the last quarter. Institutional investors and hedge funds 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.