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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the sixteen analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and twelve have issued a hold rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.33.

BLDP has been the subject of several research analyst reports. Susquehanna lifted their price objective on Ballard Power Systems from $2.00 to $3.30 and gave the stock a “neutral” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, January 21st. TD Securities upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price target for the company in a research note on Friday, January 9th. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, HSBC set a $3.40 target price on shares of Ballard Power Systems in a report on Thursday, October 9th.

Ballard Power Systems Stock Performance

BLDP stock opened at $2.58 on Thursday. The stock’s 50 day simple moving average is $2.69 and its 200 day simple moving average is $2.63. The company has a current ratio of 8.33, a quick ratio of 7.53 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $4.10. The stock has a market capitalization of $776.04 million, a PE ratio of -6.45 and a beta of 1.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm 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%. As a group, research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Several large investors have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in Ballard Power Systems by 2.5% in the third quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock valued at $36,486,000 after acquiring an additional 326,505 shares during the period. Two Sigma Investments LP grew its stake in shares of Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock valued at $17,089,000 after purchasing an additional 657,107 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Ballard Power Systems by 20.3% during 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 purchasing an additional 829,012 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Ballard Power Systems by 1.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 2,766,262 shares of the technology company’s stock valued at $7,580,000 after purchasing an additional 45,379 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Ballard Power Systems by 43.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,345,177 shares of the technology company’s stock worth $6,379,000 after purchasing an additional 714,647 shares during the period. Institutional investors own 28.02% of the company’s stock.

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.