Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Price Target at $3.97

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Reduce” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.97.

Several analysts recently issued reports on BLDP shares. Jefferies Financial Group cut their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Piper Sandler lowered their price objective on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a report on Wednesday, March 13th. Citigroup lowered their price objective on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Raymond James lowered their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. Finally, TD Securities lowered their price objective on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, March 12th.

Ballard Power Systems Stock Down 2.2 %

NASDAQ BLDP opened at $2.63 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60. The stock has a market capitalization of $787.13 million, a PE ratio of -4.46 and a beta of 1.66. Ballard Power Systems has a 1 year low of $2.60 and a 1 year high of $5.68. The business’s 50-day moving average is $3.00 and its 200 day moving average is $3.32.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The firm’s revenue for the quarter was up 131.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. Sell-side analysts forecast that Ballard Power Systems will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank lifted its position in Ballard Power Systems by 1.9% in the 3rd quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock valued at $1,967,000 after acquiring an additional 10,100 shares in the last quarter. Vanguard Group Inc. lifted its position in Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock valued at $33,476,000 after acquiring an additional 148,321 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Ballard Power Systems by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after acquiring an additional 4,677 shares in the last quarter. SG Americas Securities LLC bought a new position in Ballard Power Systems in the 4th quarter valued at approximately $373,000. Finally, Arete Wealth Advisors LLC purchased a new stake in Ballard Power Systems during the 3rd quarter valued at $48,000. 28.02% of the stock is owned by institutional investors.

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.