Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $3.11

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Reduce” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.11.

BLDP has been the topic of several recent analyst reports. Lake Street Capital cut their price target on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Raymond James reduced their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company lowered their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their target price for the stock from $2.50 to $1.50 in a report on Monday, August 12th. Finally, CIBC restated an “underperformer” rating and set a $1.60 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th.

Ballard Power Systems Price Performance

BLDP opened at $1.72 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. The stock’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $2.53. The firm has a market cap of $514.99 million, a price-to-earnings ratio of -2.77 and a beta of 1.78. Ballard Power Systems has a 1 year low of $1.61 and a 1 year high of $4.09.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after purchasing an additional 186,833 shares during the period. Rafferty Asset Management LLC raised its position in shares of Ballard Power Systems by 49.5% during the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock valued at $2,642,000 after buying an additional 236,449 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after buying an additional 8,154 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Ballard Power Systems by 7.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after purchasing an additional 38,662 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Ballard Power Systems by 25.0% in the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock worth $1,873,000 after acquiring an additional 100,700 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.