HC Wainwright set a $6.00 price objective on Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a report issued on Thursday morning. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on BLDP. Zacks Investment Research upgraded shares of Ballard Power Systems from a sell rating to a hold rating in a research note on Monday, May 7th. B. Riley set a $5.00 price target on shares of Ballard Power Systems and gave the stock a buy rating in a research note on Tuesday, June 12th. Finally, BidaskClub upgraded shares of Ballard Power Systems from a strong sell rating to a sell rating in a research note on Thursday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Ballard Power Systems currently has an average rating of Hold and a consensus price target of $4.58.

Shares of Ballard Power Systems stock traded down $0.01 on Thursday, reaching $3.45. 5,376 shares of the stock were exchanged, compared to its average volume of 462,247. Ballard Power Systems has a 1-year low of $2.57 and a 1-year high of $5.93. The company has a quick ratio of 1.83, a current ratio of 2.64 and a debt-to-equity ratio of 0.05. The firm has a market cap of $525.51 million, a price-to-earnings ratio of -115.67 and a beta of 1.83.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Ballard Power Systems had a negative net margin of 11.58% and a negative return on equity of 9.99%. The business had revenue of $26.45 million for the quarter, compared to analyst estimates of $23.33 million. equities research analysts anticipate that Ballard Power Systems will post -0.07 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. KBC Group NV grew its position in Ballard Power Systems by 104.8% during the first quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock worth $330,000 after buying an additional 47,515 shares during the period. PCJ Investment Counsel Ltd. grew its position in Ballard Power Systems by 16.6% during the first quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock worth $500,000 after buying an additional 20,000 shares during the period. Royal Bank of Canada grew its position in Ballard Power Systems by 38.8% during the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock worth $500,000 after buying an additional 39,370 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Ballard Power Systems by 49.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock worth $264,000 after buying an additional 30,694 shares during the period. Finally, Herald Investment Management Ltd grew its position in Ballard Power Systems by 102.5% during the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock worth $1,817,000 after buying an additional 324,000 shares during the period. Institutional investors own 3.78% of the company’s stock.

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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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