Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.09 Consensus PT from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have been assigned an average rating of "Reduce" from the seventeen analysts that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $2.09.

Several research analysts have recently issued reports on BLDP shares. BMO Capital Markets dropped their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a report on Friday, March 14th. Susquehanna lowered 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. Wall Street Zen raised Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. HSBC reduced their price objective on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a research report on Friday, March 14th. Finally, Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a research report on Thursday, March 13th.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded up $0.02 during trading on Friday, hitting $1.37. The company's stock had a trading volume of 6,685,718 shares, compared to its average volume of 5,873,336. Ballard Power Systems has a 52 week low of $1.00 and a 52 week high of $3.23. The firm has a market cap of $410.77 million, a P/E ratio of -1.25 and a beta of 1.68. The firm has a 50 day moving average price of $1.23 and a 200 day moving average price of $1.39. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The business had revenue of $14.76 million for the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. Equities research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently made changes to their positions in the company. Portolan Capital Management LLC bought a new position in Ballard Power Systems during the 4th quarter valued at about $2,508,000. Millennium Management LLC increased its holdings in shares of Ballard Power Systems by 79.9% during the fourth 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock valued at $5,408,000 after acquiring an additional 829,012 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock worth $2,977,000 after acquiring an additional 661,413 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock worth $4,094,000 after acquiring an additional 644,861 shares in the last quarter. 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.