Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Average Rating of “Hold” from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) has been assigned an average rating of “Hold” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.32.

Several equities analysts recently commented on BLDP shares. BMO Capital Markets initiated coverage on Ballard Power Systems in a research note on Thursday, December 8th. They issued a “market perform” rating and a $5.50 price objective on the stock. Raymond James cut their target price on Ballard Power Systems from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, November 8th. Jefferies Financial Group started coverage on shares of Ballard Power Systems in a report on Wednesday, October 19th. They issued a “hold” rating and a $6.00 price target on the stock. National Bankshares decreased their price target on shares of Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 17th. Finally, B. Riley lowered their price target on Ballard Power Systems from $11.00 to $9.00 in a research report on Tuesday, November 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp grew its holdings in Ballard Power Systems by 66.4% during the second quarter. Millburn Ridgefield Corp now owns 7,365 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,940 shares during the period. Bruni J V & Co. Co. lifted its stake in Ballard Power Systems by 0.6% in the 3rd quarter. Bruni J V & Co. Co. now owns 617,916 shares of the technology company’s stock worth $3,782,000 after purchasing an additional 3,468 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Ballard Power Systems by 171.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,538 shares of the technology company’s stock valued at $41,000 after purchasing an additional 4,131 shares during the last quarter. Parametrica Management Ltd increased its holdings in shares of Ballard Power Systems by 33.2% in the second quarter. Parametrica Management Ltd now owns 20,368 shares of the technology company’s stock worth $129,000 after purchasing an additional 5,081 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Ballard Power Systems by 13.2% during the third quarter. Advisors Asset Management Inc. now owns 46,802 shares of the technology company’s stock valued at $286,000 after buying an additional 5,441 shares during the last quarter. 31.97% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $6.23 on Wednesday. The business has a 50 day moving average price of $5.59 and a 200-day moving average price of $6.45. Ballard Power Systems has a 52 week low of $4.43 and a 52 week high of $12.57. The company has a market cap of $1.86 billion, a PE ratio of -10.05 and a beta of 1.72. The company has a quick ratio of 13.65, a current ratio of 14.44 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its quarterly earnings data on Monday, November 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $23.94 million. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Equities analysts anticipate that Ballard Power Systems will post -0.62 earnings per share for the current fiscal year.

Ballard Power Systems Company Profile

(Get Rating)

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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