Ballard Power Systems Inc. (BLDP) PT Set at $3.00 by Roth Capital
Ballard Power Systems Inc. (NASDAQ:BLDP) has been assigned a $3.00 price target by equities researchers at Roth Capital in a research note issued to investors on Monday. The brokerage currently has a a “buy” rating on the stock. Roth Capital’s target price would suggest a potential upside of 25.00% from the stock’s previous close.
A number of other research firms have also recently commented on BLDP. FBR & Co reiterated an “outperform” rating and issued a $3.00 target price on shares of Ballard Power Systems in a research note on Tuesday, September 27th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Tuesday, September 27th. Finally, TheStreet upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $2.54.
Ballard Power Systems (NASDAQ:BLDP) traded down 4.3917% during trading on Monday, hitting $2.2946. 610,548 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $2.12 and its 200 day moving average price is $1.66. The firm’s market cap is $360.13 million. Ballard Power Systems has a 12-month low of $1.11 and a 12-month high of $2.53.
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Ballard Power Systems (NASDAQ:BLDP) last released its earnings results on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company earned $17.60 million during the quarter, compared to analysts’ expectations of $18.32 million. Ballard Power Systems had a negative net margin of 30.51% and a negative return on equity of 19.49%. Equities analysts forecast that Ballard Power Systems will post ($0.15) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Ballard Power Systems stock. Royal Bank of Canada raised its position in Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned 0.06% of Ballard Power Systems worth $124,000 at the end of the most recent quarter. 4.01% of the stock is owned by hedge funds and other institutional investors.
Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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