HC Wainwright Reiterates “Buy” Rating for Ballard Power Systems, Inc. (BLDP)
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Friday. They presently have a $6.00 price target on the technology company’s stock. HC Wainwright’s price target indicates a potential upside of 6.38% from the company’s previous close.
Several other research analysts have also weighed in on BLDP. BidaskClub lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. FBR & Co reaffirmed a “buy” rating and issued a $6.00 price target on shares of Ballard Power Systems in a research note on Friday, October 27th. Cowen and Company set a $3.00 price target on shares of Ballard Power Systems and gave the company a “hold” rating in a research note on Monday, August 14th. Roth Capital set a $5.00 price target on shares of Ballard Power Systems and gave the company a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.40.
Ballard Power Systems (BLDP) traded up $0.04 during trading on Friday, reaching $5.64. 5,240,000 shares of the company traded hands, compared to its average volume of 2,299,535. Ballard Power Systems has a twelve month low of $1.61 and a twelve month high of $5.89.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.37%. The business had revenue of $31.90 million for the quarter, compared to analyst estimates of $28.33 million. During the same quarter last year, the firm earned ($0.02) EPS. Ballard Power Systems’s quarterly revenue was up 54.9% compared to the same quarter last year. analysts forecast that Ballard Power Systems will post -0.05 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in BLDP. Renaissance Technologies LLC lifted its stake in Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after buying an additional 137,200 shares in the last quarter. KCG Holdings Inc. lifted its stake in Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares in the last quarter. First Trust Advisors LP lifted its stake in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ballard Power Systems in the second quarter valued at approximately $105,000. Finally, First Manhattan Co. bought a new position in Ballard Power Systems in the third quarter valued at approximately $126,000. 2.80% of the stock is currently owned by hedge funds and other institutional investors.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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