Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Consensus Recommendation of “Reduce” from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus rating of “Reduce” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $2.78.

A number of research analysts recently weighed in on BLDP shares. HSBC lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Susquehanna cut their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Truist Financial decreased their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Lake Street Capital decreased their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently modified their holdings of the business. TD Asset Management Inc boosted its stake in Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ballard Power Systems by 4.1% during the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after buying an additional 8,549 shares in the last quarter. Endowment Wealth Management Inc. acquired a new position in shares of Ballard Power Systems in the first quarter valued at approximately $28,000. Banque Cantonale Vaudoise boosted its position in Ballard Power Systems by 7.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock worth $343,000 after buying an additional 13,639 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Ballard Power Systems during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.34 on Tuesday. The company has a market cap of $401.22 million, a PE ratio of -1.22 and a beta of 1.78. The firm has a 50-day moving average of $1.67 and a 200-day moving average of $2.19. Ballard Power Systems has a one year low of $1.27 and a one year high of $4.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

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.