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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has earned an average recommendation of “Reduce” from the fifteen analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $3.5250.

A number of analysts have recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research note on Wednesday, June 24th. ATB Cormark Capital Markets lifted their target price on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. TD Cowen upped their price target on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial boosted their target price on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Ballard Power Systems by 29.1% during the 1st quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock worth $761,000 after acquiring an additional 156,014 shares in the last quarter. Amundi grew its stake in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after buying an additional 9,454 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ballard Power Systems by 20.3% during the first 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. Jane Street Group LLC increased its stake in shares of Ballard Power Systems by 56.2% in the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock worth $1,635,000 after purchasing an additional 534,834 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Ballard Power Systems by 604.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock valued at $757,000 after buying an additional 408,641 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $3.10 on Thursday. The company has a market capitalization of $934.59 million, a price-to-earnings ratio of -11.48 and a beta of 2.25. Ballard Power Systems has a 1-year low of $1.70 and a 1-year high of $6.57. The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $4.28 and its 200-day simple moving average is $3.23.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The firm had revenue of $18.98 million during the quarter, compared to the consensus estimate of $19.88 million. On average, sell-side analysts predict that Ballard Power Systems will post -0.16 earnings per share for the current fiscal year.

About Ballard Power Systems

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.