Analysts Set Ballard Power Systems, Inc. (NASDAQ:BLDP) PT at $2.21

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have received a consensus rating of “Reduce” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $2.2318.

BLDP has been the topic of a number of recent research reports. Zacks Research cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. Roth Capital restated a “neutral” rating and set a $3.00 target price on shares of Ballard Power Systems in a report on Friday, November 14th. Susquehanna increased their price target on Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a report on Monday, October 13th. Finally, KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th.

Ballard Power Systems Stock Performance

Shares of NASDAQ:BLDP opened at $2.76 on Friday. The business has a 50-day moving average of $2.86 and a two-hundred day moving average of $2.54. The firm has a market capitalization of $830.04 million, a PE ratio of -6.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. Ballard Power Systems had a negative return on equity of 17.89% and a negative net margin of 132.80%.The business had revenue of $32.66 million for the quarter, compared to analyst estimates of $23.76 million. As a group, research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after acquiring an additional 829,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ballard Power Systems by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock valued at $4,499,000 after purchasing an additional 285,317 shares during the period. Nuveen LLC acquired a new stake in Ballard Power Systems during the 1st quarter valued at $296,000. Quadrature Capital Ltd increased its stake in Ballard Power Systems by 122.7% during the 2nd quarter. Quadrature Capital Ltd now owns 629,000 shares of the technology company’s stock worth $998,000 after buying an additional 346,500 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Ballard Power Systems by 181.5% in the 1st quarter. Hsbc Holdings PLC now owns 133,668 shares of the technology company’s stock worth $151,000 after buying an additional 86,182 shares in the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.