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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given a consensus rating of “Reduce” by the fifteen brokerages that are presently covering the stock, Marketbeat reports. Five 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 1 year price objective among brokerages that have issued a report on the stock in the last year is $2.89.

A number of research analysts recently commented on the company. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Lake Street Capital reduced their price target on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company reduced their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. TD Securities lowered Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price objective for the company from $2.50 to $1.50 in a report on Monday, August 12th. Finally, Jefferies Financial Group cut their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a report on Tuesday, August 13th.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.60 on Friday. The company has a market capitalization of $479.06 million, a price-to-earnings ratio of -2.54 and a beta of 1.78. The business has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $2.35. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.59 and a twelve month high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate 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 firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) EPS. As a group, equities research analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Endowment Wealth Management Inc. acquired a new position in Ballard Power Systems in the 1st quarter worth about $28,000. Tidal Investments LLC acquired a new position in shares of Ballard Power Systems during the 1st quarter valued at about $39,000. Scientech Research LLC acquired a new position in shares of Ballard Power Systems during the 2nd quarter valued at about $52,000. Daiwa Securities Group Inc. increased its holdings in shares of 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 valued at $54,000 after acquiring an additional 14,415 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Ballard Power Systems during the 1st quarter valued at about $59,000. 28.02% of the stock is owned by institutional investors and hedge funds.

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.