Analysts Set Ballard Power Systems, Inc. (NASDAQ:BLDP) PT at $1.51

Key Points

• Ballard Power Systems has received a consensus rating of "Reduce" from brokerages, with four analysts recommending a sell and eleven recommending a hold.
• The average 1-year price target among analysts for Ballard Power Systems is $1.5136, reflecting a cautious outlook on the stock's performance.
• Ballard Power Systems reported a revenue of $17.98 million and earnings per share of ($0.08), surpassing analysts' expectations while continuing to show negative net margins.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have been given a consensus recommendation of "Reduce" by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating and eleven have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.5136.

A number of research firms have weighed in on BLDP. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. Roth Capital boosted their price objective on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a "neutral" rating in a research report on Monday, August 11th. Finally, UBS Group lowered their price target on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a research report on Monday, May 12th.

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. lifted its position 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 valued at $37,000 after acquiring an additional 13,094 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position 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 valued at $48,000 after acquiring an additional 5,482 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Ballard Power Systems during the 1st quarter valued at about $40,000. Finally, Daiwa Securities Group Inc. lifted its position 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. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Price Performance

NASDAQ BLDP traded down $0.16 on Monday, hitting $1.86. The stock had a trading volume of 4,244,615 shares, compared to its average volume of 3,402,764. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $2.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.32 and a current ratio of 9.31. The company has a market capitalization of $559.08 million, a price-to-earnings ratio of -1.88 and a beta of 1.73. The firm has a 50-day moving average of $1.86 and a 200-day moving average of $1.50.

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