Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Average Recommendation of “Reduce” from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average recommendation of “Reduce” by the seventeen brokerages that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $2.2050.

Several equities analysts recently issued reports on the company. Zacks Research cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Cowen reiterated a “sell” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. Finally, UBS Group increased their price objective on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, October 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of Ballard Power Systems by 20.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after acquiring an additional 829,012 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ballard Power Systems by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after purchasing an additional 285,317 shares in the last quarter. Nuveen LLC bought a new stake in Ballard Power Systems in the first quarter valued at approximately $296,000. Quadrature Capital Ltd raised its holdings in Ballard Power Systems by 122.7% in the second quarter. Quadrature Capital Ltd now owns 629,000 shares of the technology company’s stock worth $998,000 after purchasing an additional 346,500 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Ballard Power Systems by 181.5% in the first quarter. Hsbc Holdings PLC now owns 133,668 shares of the technology company’s stock worth $151,000 after purchasing an additional 86,182 shares during the period. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Stock Performance

BLDP stock opened at $2.68 on Friday. The company has a 50 day moving average price of $2.93 and a 200 day moving average price of $2.50. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $4.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. The stock has a market capitalization of $805.98 million, a PE ratio of -6.70 and a beta of 1.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Thursday, November 13th. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $32.66 million during the quarter, compared to analysts’ expectations of $23.76 million. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%. Analysts forecast that Ballard Power Systems will post -0.54 EPS for the current year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.