Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.89 Consensus Target Price from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus rating of “Reduce” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.78.

A number of brokerages recently weighed in on BLDP. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their target price for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Truist Financial lowered their target price on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise grew its stake in Ballard Power Systems by 7.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after purchasing an additional 13,639 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Ballard Power Systems by 12.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock valued at $535,000 after buying an additional 32,909 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in Ballard Power Systems during the second quarter worth about $219,000. Susquehanna Fundamental Investments LLC bought a new stake in Ballard Power Systems in the second quarter worth about $204,000. Finally, Scientech Research LLC purchased a new position in Ballard Power Systems in the second quarter valued at about $52,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Down 0.7 %

Shares of BLDP stock opened at $1.34 on Tuesday. Ballard Power Systems has a 1-year low of $1.27 and a 1-year high of $4.02. The company has a current ratio of 9.01, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The stock has a market cap of $401.22 million, a price-to-earnings ratio of -1.22 and a beta of 1.78. The stock has a 50-day moving average of $1.67 and a 200-day moving average of $2.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $19.36 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

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.