Ballard Power Systems Inc. (NASDAQ:BLDP) Given Average Recommendation of "Reduce" by Brokerages

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

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a research note on Thursday, March 13th. Wall Street Zen raised shares of Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Raymond James reduced their price target on shares of 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. UBS Group dropped their price objective on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a report on Monday, May 12th. Finally, HSBC dropped their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a report on Friday, March 14th.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Ballard Power Systems during the 4th quarter worth $27,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Ballard Power Systems in the 1st quarter valued at about $40,000. Headlands Technologies LLC acquired a new stake in Ballard Power Systems in the 4th quarter valued at about $52,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock valued at $68,000 after acquiring an additional 10,767 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Ballard Power Systems during the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 28.02% of the company's stock.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock traded up $0.01 during trading on Friday, hitting $1.43. 9,137,352 shares of the company's stock were exchanged, compared to its average volume of 5,932,312. The stock has a market capitalization of $428.76 million, a price-to-earnings ratio of -1.30 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The business has a 50-day simple moving average of $1.23 and a 200-day simple moving average of $1.39. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.23.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million for the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. On average, research analysts forecast 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.