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

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been assigned a consensus recommendation of "Reduce" from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2.09.

Several equities analysts have recently issued reports on BLDP shares. HSBC decreased their price target on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating on the stock in a research note on Friday, March 14th. Roth Mkm decreased their price target on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Raymond James Financial decreased their price target on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a research note on Friday, March 14th. Finally, Susquehanna decreased their price target on Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating on the stock in a research note on Monday, April 14th.

Ballard Power Systems Price Performance

Ballard Power Systems stock traded down $0.08 during mid-day trading on Wednesday, reaching $1.52. 12,504,605 shares of the company were exchanged, compared to its average volume of 6,487,922. The company has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $1.41. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $2.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.00 and a quick ratio of 8.13. The firm has a market cap of $455.77 million, a PE ratio of -1.49 and a beta of 1.68.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. Portolan Capital Management LLC acquired a new position in Ballard Power Systems during the 4th quarter worth about $2,508,000. Millennium Management LLC lifted its holdings in Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock worth $4,404,000 after buying an additional 1,177,718 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock worth $5,408,000 after buying an additional 829,012 shares during the period. Two Sigma Investments LP lifted its holdings in Ballard Power Systems by 58.4% during the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock worth $2,977,000 after buying an additional 661,413 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock worth $4,094,000 after buying an additional 644,861 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

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.