Ballard Power Systems Inc (NASDAQ:BLDP) Receives $3.70 Average PT from Brokerages

Shares of Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.70.

Several research analysts have weighed in on BLDP shares. BidaskClub upgraded shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Wednesday, July 3rd. Roth Capital lowered shares of Ballard Power Systems from a “neutral” rating to a “sell” rating and set a $3.00 target price on the stock. in a research report on Monday, July 1st. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 10th.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Ballard Power Systems by 13.4% in the second quarter. Invesco Ltd. now owns 1,312,682 shares of the technology company’s stock valued at $5,356,000 after purchasing an additional 155,281 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Ballard Power Systems by 3.5% in the second quarter. Morgan Stanley now owns 1,048,957 shares of the technology company’s stock valued at $4,280,000 after purchasing an additional 35,133 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Ballard Power Systems by 17.5% in the second quarter. Swiss National Bank now owns 347,300 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 51,600 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Ballard Power Systems by 1,065.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 314,587 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 287,587 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Ballard Power Systems by 100.1% in the second quarter. Alps Advisors Inc. now owns 252,543 shares of the technology company’s stock valued at $1,030,000 after purchasing an additional 126,321 shares in the last quarter. 2.97% of the stock is currently owned by institutional investors.

Shares of Ballard Power Systems stock opened at $5.37 on Wednesday. The company has a current ratio of 4.40, a quick ratio of 3.85 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $4.63 and its 200-day simple moving average is $3.88. Ballard Power Systems has a 52-week low of $2.25 and a 52-week high of $5.72.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Ballard Power Systems had a negative net margin of 40.67% and a negative return on equity of 13.15%. The company had revenue of $23.70 million for the quarter, compared to analyst estimates of $22.42 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that Ballard Power Systems will post -0.13 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 fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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