Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Consensus Rating of “Reduce” from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have earned a consensus recommendation of “Reduce” from the seventeen research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $2.2050.

Several brokerages have recently issued reports on BLDP. Roth Capital reiterated a “neutral” rating and issued a $3.00 price objective on shares of Ballard Power Systems in a research note on Friday, November 14th. HSBC set a $3.40 price target on Ballard Power Systems in a research report on Thursday, October 9th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. UBS Group upped their target price on shares of Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of Ballard Power Systems by 20.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after acquiring an additional 829,012 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ballard Power Systems by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company’s stock worth $4,499,000 after purchasing an additional 285,317 shares during the last quarter. Graham Capital Management L.P. boosted its holdings in Ballard Power Systems by 127.1% in the first quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company’s stock valued at $814,000 after purchasing an additional 414,068 shares in the last quarter. Invesco Ltd. increased its stake in Ballard Power Systems by 3.6% in the first quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company’s stock valued at $4,102,000 after purchasing an additional 130,772 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Ballard Power Systems in the first quarter valued at approximately $296,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 5.9%

NASDAQ BLDP opened at $2.72 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.53 and a current ratio of 8.33. The firm has a market cap of $818.01 million, a price-to-earnings ratio of -6.80 and a beta of 1.67. The firm has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $2.39. Ballard Power Systems has a one year low of $1.00 and a one year high of $4.10.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Thursday, November 13th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Ballard Power Systems had a negative net margin of 132.80% and a negative return on equity of 17.89%. The firm had revenue of $32.66 million for the quarter, compared to the consensus estimate of $23.76 million. Equities research analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current fiscal 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.