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

Key Points

• Ballard Power Systems has an average analyst rating of "Reduce" from 15 research firms, with most calls landing at hold or sell. The average 1-year price target is about $3.51.
• Recent analyst action was mixed: Wells Fargo and Weiss kept bearish views, while Lake Street Capital upgraded the stock to buy and several firms raised price targets.
• The company recently beat EPS expectations, reporting -$0.04 versus estimates of -$0.06, but revenue came in slightly below forecasts at $18.98 million. Ballard’s shares opened at $4.13, near the top of its 52-week range.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been assigned an average recommendation of "Reduce" from the fifteen research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.5083.

Several research firms have issued reports on BLDP. Wells Fargo & Company raised their price target 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. National Bank Financial raised their price target on shares of Ballard Power Systems from $3.15 to $4.75 and gave the stock a "sector perform" rating in a research report on Wednesday. Lake Street Capital upgraded shares of Ballard Power Systems from a "hold" rating to a "buy" rating and raised their price target for the stock from $3.00 to $5.00 in a research report on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Monday, April 20th. Finally, 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.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. Rockefeller Capital Management L.P. grew its position in Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after purchasing an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $26,000. Ground Swell Capital LLC acquired a new stake in shares of Ballard Power Systems during the 1st quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 acquiring an additional 12,149 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $4.13 on Friday. Ballard Power Systems has a 1 year low of $1.24 and a 1 year high of $4.86. The firm's fifty day simple moving average is $2.72 and its 200 day simple moving average is $2.74. The company has a current ratio of 10.70, a quick ratio of 9.14 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.25 billion, a PE ratio of -15.30 and a beta of 1.94.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The business had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. On average, sell-side analysts anticipate that Ballard Power Systems will post -0.2 EPS for the current year.

About Ballard Power Systems

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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