Ballard Power Systems, Inc. (NASDAQ:BLDP) Stock Has Consensus Target Price of $3.39 According to Brokerages

Key Points

• Analysts hold a “Reduce” consensus on Ballard Power Systems, with three sell, ten hold and two buy ratings. The average 12-month price target is $3.39, compared with the stock’s $2.06 opening price.
• Ballard’s latest quarterly results fell short of expectations, reporting an adjusted loss of $0.07 per share versus an estimated $0.04 loss and revenue of $20.34 million versus the $25.24 million consensus.
• Institutional investors own 28.02% of the company, while the stock remains near its 12-month low of $1.92 and well below its 12-month high of $6.57.

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned a consensus rating of "Reduce" from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.39.

Several equities analysts recently issued reports on BLDP shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Friday, July 17th. KeyCorp reaffirmed a "sector weight" rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Ballard Power Systems from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Finally, HSBC raised shares of Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 price objective for the company in a report on Monday, August 3rd.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after purchasing an additional 6,952 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in Ballard Power Systems during the first quarter valued at approximately $26,000. Farringdon Capital Ltd. purchased a new stake in Ballard Power Systems during the second quarter valued at approximately $41,000. Cetera Investment Advisers bought a new position in Ballard Power Systems in the first quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Ballard Power Systems by 422.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock worth $38,000 after acquiring an additional 12,149 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Up 0.5%

Shares of NASDAQ:BLDP opened at $2.06 on Tuesday. The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $3.24. Ballard Power Systems has a 12-month low of $1.92 and a 12-month high of $6.57. The stock has a market capitalization of $723.70 million, a price-to-earnings ratio of -7.92 and a beta of 2.26.

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

About Ballard Power Systems

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.