Ballard Power Systems Inc. (NASDAQ:BLDP) has earned an average rating of “Buy” from the five brokerages that are currently covering the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $2.41.
A number of analysts have commented on BLDP shares. Zacks Investment Research upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $1.50 price target for the company in a research note on Wednesday, June 29th. Roth Capital restated a “buy” rating and set a $2.00 price target on shares of Ballard Power Systems in a research note on Thursday, June 30th. FBR & Co restated a “hold” rating and set a $1.50 price target on shares of Ballard Power Systems in a research note on Tuesday, July 12th. Finally, TheStreet upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 26th.
A hedge fund recently raised its stake in Ballard Power Systems stock. Royal Bank of Canada boosted its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned approximately 0.06% of Ballard Power Systems worth $124,000 as of its most recent filing with the SEC. Institutional investors own 4.01% of the company’s stock.
Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 2.44 on Tuesday. The firm has a 50-day moving average of $2.11 and a 200-day moving average of $1.65. Ballard Power Systems has a 52 week low of $1.11 and a 52 week high of $2.53. The firm’s market cap is $382.95 million.
Ballard Power Systems (NASDAQ:BLDP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The business earned $17.60 million during the quarter, compared to analyst estimates of $18.32 million. Ballard Power Systems had a negative net margin of 30.51% and a negative return on equity of 19.49%. On average, analysts expect that Ballard Power Systems will post ($0.15) EPS for the current year.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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