Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Consensus Recommendation of “Reduce” from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDPGet Free Report) (TSE:BLD) has been given an average recommendation of “Reduce” by the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $3.59.

Several brokerages recently commented on BLDP. HSBC decreased their target price on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Raymond James decreased their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. National Bankshares decreased their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 8th. Jefferies Financial Group reduced their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Finally, TD Securities boosted their price objective on shares of Ballard Power Systems from $2.50 to $2.75 and gave the company a “hold” rating in a research report on Wednesday, May 8th.

Read Our Latest Research Report on BLDP

Ballard Power Systems Trading Down 4.8 %

Shares of BLDP opened at $2.58 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66. Ballard Power Systems has a fifty-two week low of $2.42 and a fifty-two week high of $5.11. The firm has a 50 day moving average price of $2.88 and a 200-day moving average price of $3.15. The firm has a market cap of $772.43 million, a price-to-earnings ratio of -4.16 and a beta of 1.80.

Ballard Power Systems (NASDAQ:BLDPGet Free Report) (TSE:BLD) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The firm had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $17.55 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ballard Power Systems by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after buying an additional 89,643 shares during the period. Swiss National Bank boosted its stake in Ballard Power Systems by 1.9% in the 3rd quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock worth $1,967,000 after purchasing an additional 10,100 shares in the last quarter. Jump Financial LLC bought a new position in Ballard Power Systems in the 4th quarter worth about $1,086,000. CIBC Asset Management Inc boosted its stake in Ballard Power Systems by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock worth $925,000 after purchasing an additional 7,060 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after purchasing an additional 148,321 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

(Get Free Report

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.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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