Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $3.97 Consensus PT from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has earned a consensus recommendation of “Reduce” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $3.97.

A number of equities analysts have issued reports on BLDP shares. Piper Sandler cut their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Jefferies Financial Group cut their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Raymond James cut 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 report on Wednesday, March 13th. Citigroup dropped their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, TD Securities dropped their price target on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, March 12th.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $2.78 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. Ballard Power Systems has a one year low of $2.66 and a one year high of $5.68. The company’s 50-day simple moving average is $3.09 and its 200-day simple moving average is $3.42. The stock has a market capitalization of $831.14 million, a price-to-earnings ratio of -4.71 and a beta of 1.67.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. During the same period in the prior year, the business earned ($0.12) EPS. The business’s revenue was up 131.7% on a year-over-year basis. Equities analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Headlands Technologies LLC bought a new position in shares of Ballard Power Systems during the 4th quarter valued at $31,000. FNY Investment Advisers LLC raised its holdings in shares of Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after purchasing an additional 10,000 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Ballard Power Systems during the 3rd quarter valued at $48,000. Exchange Traded Concepts LLC bought a new position in shares of Ballard Power Systems during the 3rd quarter valued at $48,000. Finally, Deutsche Bank AG raised its holdings in shares of Ballard Power Systems by 95.3% during the 3rd quarter. Deutsche Bank AG now owns 13,059 shares of the technology company’s stock valued at $48,000 after purchasing an additional 6,373 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and power generation.