Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Reduce” by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Reduce” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.49.

A number of analysts recently commented on BLDP shares. National Bankshares dropped their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 8th. Jefferies Financial Group dropped their target price on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Piper Sandler dropped their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Wells Fargo & Company dropped their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Thursday, May 9th. Finally, CIBC dropped their target price on shares of Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th.

Ballard Power Systems Trading Down 2.7 %

Shares of NASDAQ:BLDP opened at $2.17 on Wednesday. The company has a market cap of $649.68 million, a PE ratio of -3.50 and a beta of 1.77. The company’s 50-day moving average price is $2.78 and its 200 day moving average price is $3.04. Ballard Power Systems has a fifty-two week low of $2.14 and a fifty-two week high of $5.11. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLDP. Vanguard Group Inc. grew its position in Ballard Power Systems by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after acquiring an additional 148,321 shares in the last quarter. Van ECK Associates Corp grew its position in Ballard Power Systems by 19.8% in the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after acquiring an additional 353,098 shares in the last quarter. Vontobel Holding Ltd. grew its position in Ballard Power Systems by 18.2% in the fourth quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company’s stock worth $7,732,000 after acquiring an additional 321,624 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ballard Power Systems by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after acquiring an additional 89,643 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Ballard Power Systems by 49.5% in the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after acquiring an additional 236,449 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

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.