Ballard Power Systems, Inc. (BLDP) – What Are Researchers Thinking About This Stock?

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average rating of “Reduce” by the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $3.39.

Several research firms have recently commented on BLDP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Friday, July 17th. Susquehanna reduced their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target on the stock in a report on Monday, August 3rd. Finally, UBS Group cut their price target on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. boosted its stake in shares of Ballard Power Systems by 56.8% in the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock worth $114,000 after buying an additional 10,850 shares during the last quarter. Headlands Technologies LLC raised its position in Ballard Power Systems by 31.6% during the second quarter. Headlands Technologies LLC now owns 190,618 shares of the technology company’s stock valued at $742,000 after acquiring an additional 45,774 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Ballard Power Systems by 22.2% in the second quarter. Benjamin Edwards Inc. now owns 132,904 shares of the technology company’s stock valued at $517,000 after acquiring an additional 24,114 shares during the period. Hsbc Holdings PLC lifted its holdings in Ballard Power Systems by 323.8% in the second quarter. Hsbc Holdings PLC now owns 254,913 shares of the technology company’s stock valued at $992,000 after acquiring an additional 194,768 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Ballard Power Systems in the second quarter valued at approximately $2,070,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.91 on Tuesday. The business’s 50 day moving average price is $2.30 and its 200 day moving average price is $3.22. The firm has a market cap of $671.00 million, a P/E ratio of -7.35 and a beta of 2.26. Ballard Power Systems has a 52 week low of $1.90 and a 52 week high of $6.57. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. The business had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. On average, sell-side analysts expect that Ballard Power Systems will post -0.17 earnings per share for the current year.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.