Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives $3.51 Average Target Price from Brokerages

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $3.5083.

Several research analysts have commented on BLDP shares. Wells Fargo & Company lifted their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. National Bank Financial lifted their price target on shares of Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $5.00 in a research note on Tuesday, May 5th. BMO Capital Markets lifted their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in shares of Ballard Power Systems by 2.5% in the third quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock worth $36,486,000 after buying an additional 326,505 shares during the period. Two Sigma Investments LP increased its stake in shares of Ballard Power Systems by 11.7% in the third quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after buying an additional 657,107 shares during the period. Invesco Ltd. increased its stake in shares of Ballard Power Systems by 48.6% in the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after buying an additional 1,625,542 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after buying an additional 829,012 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Ballard Power Systems by 204.5% in the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock worth $10,145,000 after buying an additional 2,682,355 shares during the period. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Up 1.0%

Shares of Ballard Power Systems stock opened at $4.17 on Friday. Ballard Power Systems has a 1 year low of $1.24 and a 1 year high of $4.86. The firm has a market cap of $1.26 billion, a PE ratio of -15.44 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The company has a 50 day simple moving average of $2.80 and a two-hundred day simple moving average of $2.75.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $18.98 million during the quarter, compared to analyst estimates of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Analysts expect that Ballard Power Systems will post -0.19 earnings per share 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.