Roth Capital Reiterates $3.00 Price Target for Ballard Power Systems Inc. (BLDP)
Ballard Power Systems Inc. (NASDAQ:BLDP) has been assigned a $3.00 price objective by investment analysts at Roth Capital in a research report issued on Monday. The brokerage currently has a a “buy” rating on the stock. Roth Capital’s price target points to a potential upside of 25.00% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. FBR & Co reiterated an “outperform” rating and set a $3.00 price target on shares of Ballard Power Systems in a research report 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 price objective on the stock in a research report on Tuesday, September 27th. Finally, TheStreet upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Ballard Power Systems presently has a consensus rating of “Buy” and an average price target of $2.54.
Ballard Power Systems (NASDAQ:BLDP) traded down 3.75% during trading on Monday, reaching $2.31. 754,880 shares of the company’s stock traded hands. The company’s 50 day moving average is $2.12 and its 200-day moving average is $1.66. The stock’s market cap is $362.54 million. Ballard Power Systems has a 52-week low of $1.11 and a 52-week high of $2.53.
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Ballard Power Systems (NASDAQ:BLDP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. The firm had revenue of $17.60 million for the quarter, compared to analysts’ expectations of $18.32 million. On average, analysts anticipate that Ballard Power Systems will post ($0.15) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Ballard Power Systems stock. Renaissance Technologies LLC boosted its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 326,300 shares of the company’s stock after buying an additional 30,600 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Ballard Power Systems worth $455,000 at the end of the most recent reporting period. 4.01% of the stock is currently owned by institutional investors.
About Ballard Power Systems
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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