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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average rating of “Reduce” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.49.

Several research analysts recently weighed in on BLDP shares. Jefferies Financial Group dropped their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Truist Financial reiterated a “hold” rating and issued a $3.00 target price (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. HSBC cut their price target 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. National Bankshares lowered their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 8th. Finally, CIBC reduced their target price on 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.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ballard Power Systems by 11.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after purchasing an additional 89,643 shares in the last quarter. Virtu Financial LLC acquired a new position in Ballard Power Systems during the fourth quarter worth $192,000. Jump Financial LLC purchased a new position in Ballard Power Systems during the fourth quarter valued at $1,086,000. CIBC Asset Management Inc grew its position in shares of Ballard Power Systems by 2.9% in the fourth quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after purchasing an additional 7,060 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Ballard Power Systems by 19.8% during the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after purchasing an additional 353,098 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP opened at $2.03 on Friday. Ballard Power Systems has a 12-month low of $2.00 and a 12-month high of $5.11. The stock’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $2.84. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03.

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