Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.92

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have received an average recommendation of “Reduce” from the fifteen analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $2.92.

Several equities analysts have weighed in on BLDP shares. CIBC restated an “underperformer” rating and set a $1.60 target price (down from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. Wells Fargo & Company cut their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. TD Securities lowered Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their price objective for the company from $2.50 to $1.50 in a research note on Monday, August 12th. Lake Street Capital cut their target price on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Susquehanna decreased their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On Ballard Power Systems

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

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.69 on Friday. The company has a market capitalization of $506.00 million, a PE ratio of -2.68 and a beta of 1.78. Ballard Power Systems has a 52-week low of $1.60 and a 52-week high of $4.02. The company has a 50-day simple moving average of $1.79 and a 200-day simple moving average of $2.38. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03.

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