Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Target Price at $7.25

Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) has earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and thirteen have issued a hold rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.25.

Several equities analysts recently commented on the company. BMO Capital Markets started coverage on Ballard Power Systems in a research report on Thursday, December 8th. They set a “market perform” rating and a $5.50 price target on the stock. Wells Fargo & Company lowered Ballard Power Systems from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $6.00 to $5.00 in a research report on Friday, January 6th. UBS Group started coverage on Ballard Power Systems in a research report on Tuesday, December 13th. They set a “neutral” rating on the stock. Truist Financial dropped their target price on Ballard Power Systems from $7.00 to $6.00 in a research report on Wednesday. Finally, Scotiabank began coverage on Ballard Power Systems in a research note on Thursday, March 9th. They set a “sector perform” rating and a $7.25 target price for the company.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartline Investment Corp bought a new position in Ballard Power Systems in the fourth quarter worth approximately $52,000. Raymond James & Associates purchased a new position in shares of Ballard Power Systems during the 4th quarter worth about $60,000. Creative Planning purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth about $63,000. Fox Run Management L.L.C. bought a new stake in Ballard Power Systems during the 2nd quarter valued at about $65,000. Finally, Deutsche Bank AG lifted its holdings in Ballard Power Systems by 2,001.4% during the 4th quarter. Deutsche Bank AG now owns 14,710 shares of the technology company’s stock valued at $70,000 after buying an additional 14,010 shares in the last quarter. Hedge funds and other institutional investors own 31.97% of the company’s stock.

Ballard Power Systems Price Performance

BLDP stock opened at $4.97 on Thursday. The company has a market capitalization of $1.48 billion, a P/E ratio of -8.02 and a beta of 1.91. Ballard Power Systems has a twelve month low of $4.43 and a twelve month high of $12.57. The business has a 50 day simple moving average of $5.94 and a 200-day simple moving average of $5.98. The company has a current ratio of 14.44, a quick ratio of 13.65 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last released its quarterly earnings data on Friday, March 17th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. The firm had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $25.62 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Ballard Power Systems’s revenue was down 44.1% compared to the same quarter last year. As a group, equities analysts anticipate that Ballard Power Systems will post -0.61 EPS for the current year.

About Ballard Power Systems

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.