Ballard Power Systems Inc. (NASDAQ:BLDP) Given Average Recommendation of “Reduce” by Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have received a consensus rating of “Reduce” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $2.92.

A number of equities research analysts have recently issued reports on BLDP shares. Wells Fargo & Company dropped their price objective on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 13th. Citigroup dropped their price objective on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. National Bankshares dropped their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Finally, Raymond James dropped their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th.

Ballard Power Systems Trading Down 4.2 %

NASDAQ:BLDP opened at $1.61 on Friday. Ballard Power Systems has a twelve month low of $1.60 and a twelve month high of $4.02. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $2.40. The company has a market cap of $482.05 million, a P/E ratio of -2.60 and a beta of 1.78.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. 3Chopt Investment Partners LLC bought a new position in Ballard Power Systems during the 2nd quarter worth $219,000. Susquehanna Fundamental Investments LLC bought a new position in Ballard Power Systems during the 2nd quarter worth $204,000. Scientech Research LLC bought a new position in Ballard Power Systems during the 2nd quarter worth $52,000. Decade Renewable Partners LP bought a new position in Ballard Power Systems during the 2nd quarter worth $450,000. Finally, Itau Unibanco Holding S.A. bought a new position in Ballard Power Systems during the 2nd quarter worth $91,000. 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.