Ballard Power Systems, Inc. (NASDAQ:BLDP) Stock Has Average Target Price of $3.13

Key Points

• Analysts remain cautious: Sixteen research firms give Ballard Power Systems an average “Reduce” rating, with 3 sells, 11 holds and 2 buys. The average 12-month price target is $3.13, though recent targets range from $1.68 to $3.60.
• The stock has declined sharply: BLDP opened at $1.57, near its 52-week low of $1.43 and well below its 52-week high of $6.57. Its 50-day and 200-day moving averages were $2.00 and $2.87, respectively.
• Financial results remain weak: Ballard reported a quarterly loss of $0.07 per share versus the expected $0.04 loss and revenue of $20.34 million versus the $25.24 million estimate. The company posted a negative net margin of 72.78%, while institutional investors own 28.02% of its shares.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have been given an average rating of "Reduce" by the sixteen research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.13.

A number of brokerages have recently commented on BLDP. Jefferies Financial Group reiterated a "hold" rating and set a $1.68 price target on shares of Ballard Power Systems in a report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Ballard Power Systems in a research note on Thursday, October 15th. KeyCorp restated a "sector weight" rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. HSBC raised shares of Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 target price for the company in a research note on Monday, August 3rd. Finally, UBS Group cut their price target on Ballard Power Systems from $6.50 to $2.15 and set a "neutral" rating for the company in a report on Wednesday, September 30th.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.57 on Friday. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a fifty-two week low of $1.43 and a fifty-two week high of $6.57. The business has a fifty day moving average of $2.00 and a 200-day moving average of $2.87. The stock has a market cap of $551.56 million, a price-to-earnings ratio of -6.04 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The company had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. As a group, analysts predict that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors have recently bought and sold shares of BLDP. Rockefeller Capital Management L.P. boosted its holdings in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after acquiring an additional 6,952 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Ballard Power Systems during the first quarter valued at about $33,000. Farringdon Capital Ltd. acquired a new stake in Ballard Power Systems during the second quarter worth about $41,000. Optiver Holding B.V. acquired a new stake in Ballard Power Systems during the first quarter worth about $59,000. Finally, State of Wyoming acquired a new stake in Ballard Power Systems during the second quarter worth about $97,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.

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