Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Consensus Rating of "Reduce" from Brokerages

Key Points

• Ballard Power Systems has received an average broker rating of "Reduce" , with six analysts issuing sell ratings and just one analyst rating the stock as buy.
• Institutional investors have increased their holdings in the company, with Two Sigma Investments LP growing its stake by 58.4% in the fourth quarter.
• The company's recent earnings report showed a loss of ($0.07) EPS, beating estimates, but revenues were below expectations at $14.76 million.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have been assigned a consensus rating of "Reduce" from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.1393.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. Citigroup reaffirmed a "sell" rating and issued a $1.00 price objective (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. UBS Group reduced their target price on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a research note on Monday, May 12th. Susquehanna increased their price target on Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the business. Portolan Capital Management LLC bought a new stake in Ballard Power Systems in the fourth quarter worth about $2,508,000. Millennium Management LLC raised its holdings in shares of Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock worth $4,404,000 after purchasing an additional 1,177,718 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ballard Power Systems by 20.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock worth $5,408,000 after purchasing an additional 829,012 shares during the period. Two Sigma Investments LP lifted its stake in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after purchasing an additional 661,413 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock valued at $1,635,000 after purchasing an additional 534,834 shares during the period. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Stock Down 2.7%

Shares of NASDAQ:BLDP traded down $0.05 during trading on Thursday, hitting $1.80. 2,515,247 shares of the company were exchanged, compared to its average volume of 8,929,835. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The stock has a market cap of $539.76 million, a price-to-earnings ratio of -1.76 and a beta of 1.76. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $1.72 and a two-hundred day moving average price of $1.44.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%. The firm had revenue of $14.76 million for the quarter, compared to analyst estimates of $16.82 million. As a group, research analysts anticipate that Ballard Power Systems will post -0.54 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.