Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Average Rating of “Reduce” by Analysts

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2.4125.

BLDP has been the subject of several recent analyst reports. TD Securities raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective for the company in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Finally, TD Cowen raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, January 9th.

Ballard Power Systems Price Performance

NASDAQ:BLDP opened at $2.48 on Friday. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $4.10. The stock has a fifty day moving average of $2.35 and a 200 day moving average of $2.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 9.86. The firm has a market capitalization of $745.96 million, a price-to-earnings ratio of -8.27 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Thursday, March 12th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%.The business had revenue of $33.28 million for the quarter, compared to analyst estimates of $32.24 million. On average, research analysts expect that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Rockefeller Capital Management L.P. increased its stake in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in Ballard Power Systems during the fourth quarter valued at about $26,000. Intesa Sanpaolo S.p.A. bought a new stake in Ballard Power Systems during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after purchasing an additional 12,149 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Ballard Power Systems in the 3rd quarter worth about $43,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

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.