Ballard Power Systems, Inc. (NASDAQ:BLDP) Stock Has Consensus Price Target of $3.39

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.39.

Several equities research analysts have commented on BLDP shares. UBS Group lowered their price target on shares of Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Susquehanna lowered their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Wall Street Zen downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. National Bank Financial set a $4.75 price target on Ballard Power Systems and gave the company a “sector perform” rating in a research note on Wednesday, June 24th. Finally, HSBC raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective on the stock in a report on Monday, August 3rd.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $1.83 on Tuesday. The company has a market capitalization of $642.90 million, a price-to-earnings ratio of -7.04 and a beta of 2.26. 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 has a one year low of $1.82 and a one year high of $6.57. The company’s 50-day moving average is $2.28 and its 200 day moving average is $3.22.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. Sell-side analysts expect that Ballard Power Systems will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 6,952 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Ballard Power Systems in the 1st quarter valued at approximately $26,000. Farringdon Capital Ltd. purchased a new stake in shares of Ballard Power Systems in the second quarter valued at approximately $41,000. Cetera Investment Advisers purchased a new position in Ballard Power Systems in the first quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Ballard Power Systems by 422.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after buying an additional 12,149 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.