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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have earned a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.97.

A number of research firms recently weighed in on BLDP. Jefferies Financial Group dropped their price target on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Raymond James dropped their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Piper Sandler dropped their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research note on Wednesday, March 13th. TD Securities decreased their price objective on Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, March 12th. Finally, Citigroup decreased their price objective on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th.

Institutional Trading of Ballard Power Systems

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems during the 4th quarter worth $31,000. FNY Investment Advisers LLC lifted its position in shares of Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Ballard Power Systems during the 3rd quarter worth $48,000. Exchange Traded Concepts LLC bought a new stake in shares of Ballard Power Systems during the 3rd quarter worth $48,000. Finally, Deutsche Bank AG lifted its position in shares of Ballard Power Systems by 95.3% during the 3rd quarter. Deutsche Bank AG now owns 13,059 shares of the technology company’s stock worth $48,000 after buying an additional 6,373 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Trading Down 1.1 %

Shares of Ballard Power Systems stock opened at $2.69 on Friday. Ballard Power Systems has a 12-month low of $2.66 and a 12-month high of $5.68. The stock has a market cap of $805.08 million, a P/E ratio of -4.56 and a beta of 1.66. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $3.01 and its 200-day moving average is $3.33.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. During the same quarter last year, the company posted ($0.12) EPS. The firm’s revenue was up 131.7% on a year-over-year basis. Equities research analysts predict that Ballard Power Systems will post -0.51 earnings per share for the current fiscal year.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.