Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $3.97

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus rating of “Reduce” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.97.

Several analysts recently weighed in on the stock. TD Securities cut their price target on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, March 12th. Citigroup cut their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Jefferies Financial Group cut their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Piper Sandler cut their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Finally, Raymond James cut their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th.

Hedge Funds Weigh In On Ballard Power Systems

Several large investors have recently modified their holdings of BLDP. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter worth about $31,000. FNY Investment Advisers LLC raised its position in shares of Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after purchasing an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Ballard Power Systems in the 3rd quarter worth about $48,000. Exchange Traded Concepts LLC purchased a new position in Ballard Power Systems in the 3rd quarter worth about $48,000. Finally, Deutsche Bank AG raised its position in Ballard Power Systems by 95.3% in the 3rd quarter. Deutsche Bank AG now owns 13,059 shares of the technology company’s stock worth $48,000 after buying an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $2.78 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. Ballard Power Systems has a 52-week low of $2.66 and a 52-week high of $5.68. The company’s 50 day moving average price is $3.08 and its 200-day moving average price is $3.40.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The firm had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The firm’s revenue for the quarter was up 131.7% on a year-over-year basis. On average, sell-side analysts forecast 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.