Ballard Power Systems, Inc. (NASDAQ:BLDP) Stock Has Average Price Target of $3.13 According to Analysts

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has earned a consensus recommendation of “Reduce” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.13.

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Thursday, October 15th. HSBC upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective for the company in a research report on Monday, August 3rd. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Zacks Research cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $1.68 target price on shares of Ballard Power Systems in a research report on Tuesday, October 27th.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in Ballard Power Systems during the 2nd quarter worth approximately $28,144,000. Man Group plc acquired a new position in shares of Ballard Power Systems in the second quarter valued at approximately $4,629,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ballard Power Systems in the second quarter valued at approximately $3,392,000. Bank of America Corp DE purchased a new stake in shares of Ballard Power Systems during the second quarter worth approximately $3,231,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Ballard Power Systems during the first quarter worth approximately $1,362,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 4.5%

BLDP stock opened at $1.50 on Friday. 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 business’s 50-day moving average is $1.99 and its two-hundred day moving average is $2.87. Ballard Power Systems has a 1 year low of $1.43 and a 1 year high of $6.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. On average, equities research analysts anticipate that Ballard Power Systems will post -0.17 EPS for the current fiscal year.

Ballard Power Systems Company Profile

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and technology. Its fuel cell systems generate electricity through an electrochemical process using hydrogen, producing water and heat as byproducts and supporting lower-emission power applications.

The company focuses primarily on heavy-duty mobility markets, including buses, commercial trucks, trains, marine vessels and other specialty vehicles. Ballard also provides fuel cell products and related services for stationary power applications, along with engineering support, technology development and after-sales services.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners internationally, with activity across North America, Europe and Asia.