Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $3.49 Consensus PT from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned an average recommendation of “Reduce” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Three research 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 objective among brokerages that have covered the stock in the last year is $3.49.

A number of research analysts have recently commented on the company. Truist Financial reissued a “hold” rating and set a $3.00 price objective (down previously from $3.50) on shares of Ballard Power Systems in a report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Thursday, May 9th. CIBC reduced their price objective on shares of Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. HSBC lowered their target price on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, National Bankshares cut their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 8th.

Ballard Power Systems Price Performance

BLDP stock opened at $2.03 on Friday. The firm has a 50 day simple moving average of $2.53 and a 200 day simple moving average of $2.84. Ballard Power Systems has a 52 week low of $2.00 and a 52 week high of $5.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $17.55 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. Ballard Power Systems’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.11) earnings per share. On average, equities analysts forecast that Ballard Power Systems will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. TD Asset Management Inc lifted its holdings in shares of Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 8,154 shares during the period. Van ECK Associates Corp lifted its stake in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after purchasing an additional 186,833 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Ballard Power Systems by 18.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company’s stock valued at $240,000 after purchasing an additional 16,978 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $94,000. Finally, SG Americas Securities LLC raised its holdings in shares of Ballard Power Systems by 84.3% in the 2nd quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock worth $179,000 after buying an additional 36,368 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

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.