Ballard Power Systems Inc. (BLDP) Rating Reiterated by FBR & Co
Ballard Power Systems Inc. (NASDAQ:BLDP)‘s stock had its “outperform” rating reaffirmed by stock analysts at FBR & Co in a research note issued to investors on Tuesday. They currently have a $3.00 target price on the stock. FBR & Co’s target price suggests a potential upside of 37.61% from the stock’s current price.
A number of other brokerages have also recently commented on BLDP. Zacks Investment Research raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $1.50 price objective for the company in a research note on Wednesday, June 29th. Roth Capital reaffirmed a “buy” rating and set a $2.00 price objective on shares of Ballard Power Systems in a research note on Thursday, June 30th. Finally, TheStreet raised Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $2.21.
Ballard Power Systems (NASDAQ:BLDP) opened at 2.18 on Tuesday. The firm has a 50-day moving average price of $2.03 and a 200 day moving average price of $1.61. Ballard Power Systems has a 12 month low of $1.11 and a 12 month high of $2.38. The firm’s market capitalization is $342.14 million.
Ballard Power Systems (NASDAQ:BLDP) last released its earnings results on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The company earned $17.60 million during the quarter, compared to analysts’ expectations of $18.32 million. Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. On average, equities analysts forecast that Ballard Power Systems will post ($0.15) EPS for the current year.
A hedge fund recently raised its stake in Ballard Power Systems stock. Renaissance Technologies LLC raised its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,300 shares of the company’s stock after buying an additional 30,600 shares during the period. Renaissance Technologies LLC owned about 0.21% of Ballard Power Systems worth $455,000 as of its most recent SEC filing. 4.01% of the stock is owned by institutional investors.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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