Ballard Power Systems, Inc. (BLDP) – What Are Brokerages Thinking About This Stock?

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus rating of “Reduce” from the sixteen analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $3.13.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Thursday, October 15th. BMO Capital Markets lowered their price objective on Ballard Power Systems from $2.10 to $1.50 and set an “underperform” rating on the stock in a research note on Monday, October 26th. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Jefferies Financial Group reiterated a “hold” rating and issued a $1.68 price target on shares of Ballard Power Systems in a report on Tuesday, October 27th. Finally, Wall Street Zen lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its holdings in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after buying an additional 6,952 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Ballard Power Systems in the first quarter valued at approximately $33,000. Farringdon Capital Ltd. bought a new position in Ballard Power Systems during the second quarter worth $41,000. Optiver Holding B.V. acquired a new position in Ballard Power Systems during the 1st quarter worth approximately $59,000. Finally, State of Wyoming purchased a new stake in shares of Ballard Power Systems in the second quarter valued at about $97,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.53 on Friday. The stock’s fifty day moving average is $1.92 and its 200 day moving average is $2.84. The stock has a market cap of $539.68 million, a P/E ratio of -5.90 and a beta of 2.21. Ballard Power Systems has a one year low of $1.40 and a one year high of $6.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.

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.