Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.92 Consensus Target Price from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been given a consensus recommendation of "Reduce" by the fifteen brokerages that are covering the company, MarketBeat.com reports. Five 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 1-year price target among analysts that have updated their coverage on the stock in the last year is $2.92.

BLDP has been the topic of several analyst reports. Citigroup decreased their price objective on Ballard Power Systems from $3.50 to $2.00 and set a "neutral" rating on the stock in a report on Monday, September 30th. TD Securities cut shares of Ballard Power Systems from a "hold" rating to a "sell" rating and cut their target price for the stock from $2.50 to $1.50 in a report on Monday, August 12th. BMO Capital Markets lowered their price target on shares of Ballard Power Systems from $2.25 to $1.70 and set an "underperform" rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group cut their price target on shares of Ballard Power Systems from $3.25 to $2.00 and set a "hold" rating on the stock in a report on Tuesday, August 13th. Finally, 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 research note on Tuesday, August 13th.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP opened at $1.61 on Friday. The stock's 50-day moving average is $1.81 and its 200 day moving average is $2.40. The stock has a market cap of $482.05 million, a price-to-earnings ratio of -2.56 and a beta of 1.78. Ballard Power Systems has a 1-year low of $1.60 and a 1-year high of $4.02. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate 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 business's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, sell-side analysts anticipate that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently modified their holdings of the business. Endowment Wealth Management Inc. purchased a new stake in shares of Ballard Power Systems in the 1st quarter worth approximately $28,000. Tidal Investments LLC bought a new stake in Ballard Power Systems in the first quarter worth $39,000. Scientech Research LLC purchased a new stake in shares of Ballard Power Systems in the second quarter worth $52,000. Daiwa Securities Group Inc. increased its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock valued at $54,000 after acquiring an additional 14,415 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Ballard Power Systems in the 1st quarter worth about $59,000. 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.