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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.89.

Several equities analysts have weighed in on BLDP shares. BMO Capital Markets lowered their target price on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. Citigroup cut their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Susquehanna cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Raymond James lowered their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Truist Financial lowered their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th.

Ballard Power Systems Trading Up 6.8 %

NASDAQ:BLDP opened at $1.73 on Tuesday. The stock has a fifty day simple moving average of $1.70 and a 200 day simple moving average of $2.23. The firm has a market capitalization of $518.00 million, a price-to-earnings ratio of -2.75 and a beta of 1.78. Ballard Power Systems has a 1-year low of $1.52 and a 1-year high of $4.02. 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 earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Ballard Power Systems will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several large investors have recently made changes to their positions in the company. TD Asset Management Inc increased its holdings in shares of Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 8,154 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after buying an additional 8,549 shares during the last quarter. Endowment Wealth Management Inc. acquired a new stake in shares of Ballard Power Systems in the first quarter valued at approximately $28,000. Tidal Investments LLC acquired a new stake in shares of Ballard Power Systems in the first quarter valued at approximately $39,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.