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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given a consensus rating of “Reduce” by the fifteen research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3.11.

BLDP has been the subject of several recent research reports. BMO Capital Markets cut their price target on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a report on Tuesday, August 13th. CIBC reaffirmed an “underperformer” rating and issued a $1.60 price objective (down previously from $3.50) on shares of Ballard Power Systems in a research note on Tuesday, August 13th. National Bankshares decreased their target price on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Lake Street Capital decreased their price target on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial decreased their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th.

Ballard Power Systems Trading Up 4.7 %

BLDP opened at $1.80 on Monday. Ballard Power Systems has a 52 week low of $1.61 and a 52 week high of $4.34. The stock has a market cap of $538.94 million, a PE ratio of -2.90 and a beta of 1.78. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $2.04 and a 200-day moving average of $2.55.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. Ballard Power Systems’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. Equities research analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Endowment Wealth Management Inc. acquired a new position in shares of Ballard Power Systems during the first quarter worth about $28,000. Tidal Investments LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter worth approximately $39,000. Scientech Research LLC bought a new stake in Ballard Power Systems during the second quarter valued at $52,000. Daiwa Securities Group Inc. lifted its holdings in Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Ballard Power Systems in the 1st quarter worth approximately $59,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.