Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Average Recommendation of “Hold” by Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.5250.

A number of research analysts recently weighed in on BLDP shares. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $5.00 in a research report on Tuesday, May 5th. Raymond James Financial boosted their target price on shares of Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a report on Friday, July 17th. Zacks Research upgraded Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, ATB Cormark Capital Markets lifted their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Ballard Power Systems by 2.5% in the third quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock worth $36,486,000 after acquiring an additional 326,505 shares during the period. Two Sigma Investments LP grew its position in shares of Ballard Power Systems by 11.7% during the third quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after purchasing an additional 657,107 shares in the last quarter. Invesco Ltd. raised its stake in Ballard Power Systems by 48.6% during the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock valued at $12,621,000 after purchasing an additional 1,625,542 shares during the period. Goldman Sachs Group Inc. raised its stake in Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Ballard Power Systems by 204.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock worth $10,145,000 after purchasing an additional 2,682,355 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $2.50 on Thursday. Ballard Power Systems has a 1-year low of $1.70 and a 1-year high of $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The business has a fifty day moving average price of $4.12 and a 200-day moving average price of $3.23. The company has a market capitalization of $753.70 million, a PE ratio of -9.26 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $19.88 million. As a group, equities analysts expect that Ballard Power Systems will post -0.16 EPS for the current fiscal year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.