Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Average Rating of "Reduce" by Analysts

Key Points

• Analysts have a consensus rating of "Reduce" on Ballard Power Systems from 14 covering firms (4 sell, 10 hold), with an average 12‑month price target of $2.475.
• Ballard slightly beat quarterly estimates (EPS -$0.06 vs. -$0.07 and revenue $33.28M vs. $32.24M) but remains unprofitable, reporting a negative net margin of 91.5% and negative return on equity.
• The stock trades around $2.70 (1‑year range $1.07–$4.10) with a market cap of about $814M and roughly 28% institutional ownership, highlighted by a large stake increase from Invesco.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned a consensus rating of "Reduce" from the fourteen analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $2.4750.

Several research firms have issued reports on BLDP. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. TD Securities upgraded shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price target on the stock in a research report on Friday, January 9th. Wells Fargo & Company lifted their price objective on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a research report on Friday, March 27th. Finally, TD Cowen upgraded shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a research report on Friday, January 9th.

Ballard Power Systems Trading Down 3.9%

Ballard Power Systems stock opened at $2.70 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 9.86. The firm has a market cap of $814.00 million, a price-to-earnings ratio of -9.00 and a beta of 1.68. Ballard Power Systems has a 1 year low of $1.07 and a 1 year high of $4.10. The firm's 50 day moving average price is $2.30 and its two-hundred day moving average price is $2.73.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings results on Thursday, March 12th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $33.28 million for the quarter, compared to analyst estimates of $32.24 million. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%. On average, research analysts predict that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. purchased a new position in Ballard Power Systems during the 4th quarter worth approximately $117,000. Hsbc Holdings PLC boosted its stake in shares of Ballard Power Systems by 24.4% during the 4th quarter. Hsbc Holdings PLC now owns 151,574 shares of the technology company's stock valued at $385,000 after buying an additional 29,699 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after buying an additional 6,952 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock valued at $38,000 after buying an additional 12,149 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Ballard Power Systems by 48.6% during the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company's stock valued at $12,621,000 after buying an additional 1,625,542 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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