Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives $3.50 Average Target Price from Brokerages

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average rating of “Hold” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $3.50.

A number of research firms recently weighed in on BLDP. ATB Cormark Capital Markets lifted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Raymond James Financial increased their target price on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a report on Wednesday, May 6th. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target for the company in a research report on Monday, August 3rd. Finally, Zacks Research upgraded Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. lifted its holdings in shares of Ballard Power Systems by 56.8% in the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock worth $114,000 after buying an additional 10,850 shares in the last quarter. Headlands Technologies LLC grew its stake in Ballard Power Systems by 31.6% during the second quarter. Headlands Technologies LLC now owns 190,618 shares of the technology company’s stock valued at $742,000 after acquiring an additional 45,774 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Ballard Power Systems by 22.2% during the second quarter. Benjamin Edwards Inc. now owns 132,904 shares of the technology company’s stock valued at $517,000 after acquiring an additional 24,114 shares in the last quarter. Hsbc Holdings PLC grew its stake in Ballard Power Systems by 323.8% during the second quarter. Hsbc Holdings PLC now owns 254,913 shares of the technology company’s stock valued at $992,000 after acquiring an additional 194,768 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Ballard Power Systems during the 2nd quarter worth approximately $2,070,000. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Price Performance

BLDP opened at $2.40 on Monday. The company has a market capitalization of $723.62 million, a price-to-earnings ratio of -9.23 and a beta of 2.29. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $3.13 and a 200-day moving average price of $3.22. Ballard Power Systems has a twelve month low of $1.83 and a twelve month high of $6.57.

Ballard Power Systems (NASDAQ:BLDP) (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 business had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Equities analysts expect that Ballard Power Systems will post -0.17 EPS for the current 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.