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

Key Points

• Ballard Power Systems has a consensus broker rating of "Reduce", based on 15 analysts: three sell ratings, 11 hold ratings, and one buy rating. The average 1-year price target is about $3.53.
• Recent analyst moves were mixed, with Lake Street Capital upgrading the stock to buy while Weiss Ratings reaffirmed a sell rating and several other firms maintained cautious outlooks. Price targets ranged from $2.10 to $5.00.
• The stock rose 4.7% to $3.10, while the company reported a smaller-than-expected quarterly loss of $0.04 per share. Ballard still posted weak fundamentals, including negative net margin and expectations for a full-year loss.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been given a consensus recommendation of "Reduce" by the fifteen brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $3.5250.

BLDP has been the subject of a number of recent research reports. Lake Street Capital upgraded Ballard Power Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $3.00 to $5.00 in a research report on Tuesday, May 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a report on Friday, July 17th. Raymond James Financial boosted their target price on Ballard Power Systems from $2.40 to $4.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 6th. National Bank Financial set a $4.75 target price on Ballard Power Systems and gave the company a "sector perform" rating in a report on Wednesday, June 24th. Finally, BMO Capital Markets increased their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company an "underperform" rating in a research report on Wednesday, May 6th.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently bought and sold shares of BLDP. Rockefeller Capital Management L.P. increased its position in shares of Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC acquired a new position in Ballard Power Systems in the 1st quarter worth approximately $26,000. Intesa Sanpaolo S.p.A. acquired a new position in Ballard Power Systems in the 4th quarter worth approximately $28,000. Finally, Cetera Investment Advisers purchased a new position in Ballard Power Systems during the 1st quarter worth approximately $33,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Up 4.7%

NASDAQ BLDP opened at $3.10 on Thursday. Ballard Power Systems has a 12 month low of $1.70 and a 12 month high of $6.57. The company has a market capitalization of $934.59 million, a P/E ratio of -11.48 and a beta of 2.25. The company's 50 day simple moving average is $4.28 and its 200 day simple moving average is $3.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million during the quarter, compared to analysts' expectations of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Equities research analysts expect that Ballard Power Systems will post -0.16 earnings per share for the current fiscal year.

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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