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

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.

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

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

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP traded down $0.05 during trading on Thursday, reaching $1.80. 2,515,247 shares of the company traded hands, compared to its average volume of 6,111,487. The firm has a 50 day simple moving average of $1.72 and a 200-day simple moving average of $1.44. The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $539.77 million, a PE ratio of -1.76 and a beta of 1.76. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $2.28.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Ballard Power Systems during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. raised its stake in Ballard Power Systems by 125.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock worth $37,000 after acquiring an additional 13,094 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Ballard Power Systems by 21.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock worth $48,000 after acquiring an additional 5,482 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Ballard Power Systems during the 1st quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. raised its stake in Ballard Power Systems by 44.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after acquiring an additional 15,160 shares during the period. Institutional investors own 28.02% of the company's stock.

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.