Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives $2.11 Average Price Target from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average rating of “Reduce” from the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.1136.

BLDP has been the subject of a number of research analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Zacks Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. BMO Capital Markets boosted their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the company an “underperform” rating in a report on Tuesday, August 12th. Cowen reissued a “sell” rating on shares of Ballard Power Systems in a research note on Friday, November 14th. Finally, Wells Fargo & Company lifted their target price on Ballard Power Systems from $1.00 to $1.50 and gave the company an “underweight” rating in a research report on Wednesday, August 13th.

Ballard Power Systems Stock Down 1.4%

Shares of NASDAQ BLDP opened at $2.85 on Friday. The company has a market capitalization of $856.66 million, a P/E ratio of -2.88 and a beta of 1.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32. The company has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $2.22. Ballard Power Systems has a 1 year low of $1.00 and a 1 year high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Thursday, November 13th. The technology company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $23.76 million. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. On average, equities research analysts predict that Ballard Power Systems will post -0.54 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds have recently modified their holdings of BLDP. Legal & General Group Plc increased its holdings in Ballard Power Systems by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock worth $36,486,000 after purchasing an additional 326,505 shares during the period. Two Sigma Investments LP raised its holdings in shares of Ballard Power Systems by 11.7% in the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock valued at $17,089,000 after purchasing an additional 657,107 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ballard Power Systems by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after buying an additional 285,317 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Ballard Power Systems by 3.6% during the 1st quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock worth $4,102,000 after acquiring an additional 130,772 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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.