Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Rating of “Reduce” by Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average recommendation of “Reduce” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $3.97.

A number of equities research analysts recently commented on the stock. TD Securities lowered their price target on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, March 12th. Raymond James dropped their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. Citigroup reduced their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Piper Sandler lowered their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group cut their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Tuesday, January 30th.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in Ballard Power Systems in the fourth quarter worth $31,000. FNY Investment Advisers LLC grew its position in Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after purchasing an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Ballard Power Systems during the 3rd quarter valued at about $48,000. Exchange Traded Concepts LLC purchased a new position in Ballard Power Systems in the third quarter worth about $48,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ballard Power Systems by 37.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after buying an additional 3,753 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Up 1.2 %

Shares of NASDAQ:BLDP opened at $2.61 on Friday. The stock has a market capitalization of $781.14 million, a P/E ratio of -4.42 and a beta of 1.66. The stock’s 50-day moving average price is $2.98 and its 200-day moving average price is $3.31. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 12-month low of $2.53 and a 12-month high of $5.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $46.80 million for the quarter, compared to the consensus estimate of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. Ballard Power Systems’s revenue was up 131.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. On average, equities analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current year.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.