Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) Price Target at $3.50

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average recommendation of “Reduce” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.50.

A number of research firms have commented on BLDP. Zacks Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. Finally, Susquehanna reduced their price objective on Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $2.18 on Friday. 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 $1.92 and a one year high of $6.57. The company’s 50-day simple moving average is $2.55 and its 200-day simple moving average is $3.25. The stock has a market capitalization of $765.38 million, a price-to-earnings ratio of -8.38 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted 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). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%.The firm had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Equities analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its stake in Ballard Power Systems by 228.1% in the fourth 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 period. Swiss Life Asset Management Ltd bought a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $26,000. Ground Swell Capital LLC bought a new position in shares of Ballard Power Systems during the first quarter valued at approximately $26,000. Cetera Investment Advisers acquired a new stake in shares of Ballard Power Systems during the 1st quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after purchasing an additional 12,149 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

About Ballard Power Systems

Ballard Power Systems Inc develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology converts hydrogen and oxygen into electricity, with water and heat as byproducts, offering an alternative to conventional power systems for applications that require low-emission operation.

The company focuses primarily on heavy-duty mobility markets, including transit buses, commercial trucks, trains, and marine vessels. Ballard also supplies fuel cell products for stationary power applications and provides related engineering, integration, service, and support capabilities.

Founded in 1979 and headquartered in Vancouver, British Columbia, Ballard serves customers and partners in North America, Europe, Asia, and other international markets.