Ballard Power Systems Inc. (BLDP) PT Set at $3.00 by Roth Capital
Ballard Power Systems Inc. (NASDAQ:BLDP) has been given a $3.00 price target by equities researchers at Roth Capital in a research note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. Roth Capital’s price target indicates a potential upside of 25.00% from the stock’s previous close.
A number of other brokerages have also recently commented on BLDP. FBR & Co reaffirmed an “outperform” rating and set a $3.00 target price on shares of Ballard Power Systems in a report on Tuesday, September 27th. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Tuesday, September 27th. Finally, TheStreet raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, August 26th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.54.
Ballard Power Systems (NASDAQ:BLDP) traded down 4.3917% during mid-day trading on Monday, hitting $2.2946. 610,548 shares of the stock traded hands. Ballard Power Systems has a 12 month low of $1.11 and a 12 month high of $2.53. The company’s 50 day moving average is $2.12 and its 200 day moving average is $1.66. The company’s market cap is $360.13 million.
Ballard Power Systems (NASDAQ:BLDP) last announced its earnings results on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). Ballard Power Systems had a negative net margin of 30.51% and a negative return on equity of 19.49%. The business earned $17.60 million during the quarter, compared to analysts’ expectations of $18.32 million. On average, analysts expect that Ballard Power Systems will post ($0.15) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Ballard Power Systems stock. Renaissance Technologies LLC boosted its position in Ballard Power Systems Inc. (NASDAQ:BLDP) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,300 shares of the company’s stock after buying an additional 30,600 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Ballard Power Systems worth $455,000 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 Company Profile
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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