Ballard Power Systems (NASDAQ:BLDP) Rating Reiterated by Raymond James

Raymond James reissued their outperform rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a research report report published on Tuesday, Price Targets.com reports. Raymond James currently has a $30.00 price target on the technology company’s stock.

A number of other research firms also recently commented on BLDP. BMO Capital Markets reduced their target price on Ballard Power Systems from $35.00 to $23.00 and set an outperform rating for the company in a report on Wednesday, May 5th. National Bank Financial dropped their price target on Ballard Power Systems to $33.00 and set an outperform rating for the company in a research report on Wednesday, May 5th. Citigroup dropped their price target on Ballard Power Systems from $42.00 to $33.00 in a research report on Friday, March 12th. Zacks Investment Research cut Ballard Power Systems from a hold rating to a sell rating in a research report on Wednesday, March 17th. Finally, TheStreet cut Ballard Power Systems from a c- rating to a d+ rating in a research report on Friday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $29.07.

Ballard Power Systems stock opened at $17.92 on Tuesday. Ballard Power Systems has a one year low of $11.99 and a one year high of $42.28. The company has a current ratio of 26.03, a quick ratio of 25.40 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $18.79. The firm has a market capitalization of $5.33 billion, a P/E ratio of -85.33 and a beta of 1.53.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Sunday, May 2nd. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ballard Power Systems had a negative net margin of 56.85% and a negative return on equity of 7.08%. The business had revenue of $17.62 million during the quarter, compared to analyst estimates of $25.74 million. On average, equities analysts anticipate that Ballard Power Systems will post -0.21 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Reilly Financial Advisors LLC acquired a new stake in Ballard Power Systems in the 4th quarter worth about $29,000. Amundi Pioneer Asset Management Inc. boosted its stake in Ballard Power Systems by 595.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 163,379 shares of the technology company’s stock worth $3,823,000 after buying an additional 139,879 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Ballard Power Systems in the 4th quarter worth about $472,000. Handelsbanken Fonder AB boosted its stake in Ballard Power Systems by 12.9% in the 1st quarter. Handelsbanken Fonder AB now owns 1,403,942 shares of the technology company’s stock worth $34,172,000 after buying an additional 160,836 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Ballard Power Systems in the 4th quarter worth about $471,000. 27.53% of the stock is currently owned by hedge funds and other institutional investors.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products primarily in Canada. The company offers heavy duty modules, marine systems, fuel cell stacks, backup power systems, and material handling products. It also provides technology solutions, including engineering and technology transfer, as well as the licenses and sells intellectual property portfolio and fundamental knowledge for various proton exchange membrane fuel cell applications.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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