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

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has earned a consensus rating of "Reduce" from the sixteen research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $1.8136.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. HSBC set a $3.40 target price on shares of Ballard Power Systems in a research report on Thursday, October 9th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.00 to $1.10 and gave the company an "underperform" rating in a research report on Tuesday, August 12th. Zacks Research raised Ballard Power Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Wednesday, October 8th.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $3.64 on Tuesday. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $4.10. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.09 billion, a PE ratio of -3.68 and a beta of 1.80. The stock has a 50-day moving average price of $2.56 and a 200-day moving average price of $1.88.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. As a group, equities analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its stake in Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock worth $37,000 after purchasing an additional 13,094 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after acquiring an additional 5,482 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Ballard Power Systems in the 1st quarter valued at about $40,000. Daiwa Securities Group Inc. boosted its holdings in Ballard Power Systems by 108.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock valued at $58,000 after acquiring an additional 19,170 shares during the period. Finally, Ardsley Advisory Partners LP bought a new position in Ballard Power Systems during the 2nd quarter worth approximately $80,000. Institutional investors own 28.02% of the company's stock.

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.

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