Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) have been given a consensus recommendation of “Buy” by the six research firms that are covering the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $2.41.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Friday, August 5th. FBR & Co restated an “outperform” rating and issued a $3.00 target price on shares of Ballard Power Systems in a report on Friday, August 19th. TheStreet upgraded Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Finally, Roth Capital restated a “buy” rating on shares of Ballard Power Systems in a report on Tuesday, July 19th.
A hedge fund recently raised its stake in Ballard Power Systems stock. Royal Bank of Canada raised its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned about 0.06% of Ballard Power Systems worth $124,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 4.01% of the company’s stock.
Ballard Power Systems (NASDAQ:BLDP) traded down 4.42% during trading on Tuesday, hitting $2.38. The stock had a trading volume of 2,268,361 shares. The firm’s 50 day moving average is $2.07 and its 200 day moving average is $1.63. The firm’s market cap is $373.53 million. Ballard Power Systems has a 1-year low of $1.11 and a 1-year high of $2.53.
Ballard Power Systems (NASDAQ:BLDP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The business had revenue of $17.60 million for 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, analysts anticipate that Ballard Power Systems will post ($0.15) earnings per share for the current year.
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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