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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.5875.

BLDP has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets lifted their price target on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. BMO Capital Markets upped their price objective on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a report on Wednesday, May 6th. TD Cowen raised their price objective on shares of Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a “sector perform” rating in a report on Wednesday.

Hedge Funds Weigh In On Ballard Power Systems

Several large investors have recently bought and sold shares of BLDP. Rockefeller Capital Management L.P. lifted its stake in Ballard Power Systems by 228.1% during the 4th 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 in the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Ballard Power Systems in the 4th quarter worth $26,000. Ground Swell Capital LLC purchased a new stake in shares of Ballard Power Systems in the first quarter valued at about $26,000. Intesa Sanpaolo S.p.A. bought a new position in shares of Ballard Power Systems during the fourth quarter valued at about $28,000. Finally, Cetera Investment Advisers bought a new position in shares of Ballard Power Systems during the first quarter valued at about $33,000. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Stock Up 0.4%

Ballard Power Systems stock opened at $3.63 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -13.43 and a beta of 2.19. Ballard Power Systems has a 52-week low of $1.43 and a 52-week high of $6.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. The firm has a 50 day moving average price of $4.43 and a two-hundred day moving average price of $3.16.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The company had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. Equities analysts predict that Ballard Power Systems will post -0.2 EPS for the current 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.