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

Key Points

• Analyst consensus is “Reduce”: Of 15 brokerages, three rate Ballard Power Systems a sell, 10 recommend holding, and two recommend buying. The average 12-month price target is $3.50, versus a recent share price of $2.22.
• Recent financial results fell short of expectations: Ballard reported a quarterly loss of $0.07 per share versus the $0.04 consensus loss, while revenue of $20.34 million missed estimates of $25.24 million. Analysts expect a full-year loss of approximately $0.17 per share.
• The stock remains under pressure: Shares trade below both their 50-day ($2.66) and 200-day ($3.25) moving averages and have ranged from $1.92 to $6.57 over the past year. Institutional investors own 28.02% of the company.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have received an average rating of "Reduce" from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $3.50.

BLDP has been the subject of several analyst reports. HSBC upgraded shares of Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 price target for the company in a research report on Monday, August 3rd. Zacks Research cut shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Susquehanna lowered their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set a "neutral" rating for the company in a report on Monday, August 10th. National Bank Financial set a $4.75 target price on shares of Ballard Power Systems and gave the company a "sector perform" rating in a research report on Wednesday, June 24th. Finally, KeyCorp reissued a "sector weight" rating on shares of Ballard Power Systems in a research note on Tuesday, August 4th.

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its holdings in shares of Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after buying an additional 6,952 shares during the period. Swiss Life Asset Management Ltd acquired a new position in Ballard Power Systems in the fourth quarter valued at about $26,000. Ground Swell Capital LLC bought a new stake in shares of Ballard Power Systems in the first quarter worth about $26,000. Intesa Sanpaolo S.p.A. acquired a new stake in shares of Ballard Power Systems during the fourth quarter worth about $28,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Ballard Power Systems during the first quarter worth about $33,000. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Price Performance

Shares of BLDP stock opened at $2.22 on Friday. The stock's fifty day moving average is $2.66 and its 200-day moving average is $3.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19. The stock has a market capitalization of $779.42 million, a PE ratio of -8.54 and a beta of 2.26. Ballard Power Systems has a 52 week low of $1.92 and a 52 week high of $6.57.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). The business had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Equities research analysts expect that Ballard Power Systems will post -0.17 EPS 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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