Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Average Rating of "Reduce" from Analysts

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned an average rating of "Reduce" from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2.89.

BLDP has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on Ballard Power Systems from $2.25 to $1.70 and set an "underperform" rating on the stock in a research report on Tuesday, August 13th. StockNews.com raised shares of Ballard Power Systems to a "sell" rating in a report on Friday. Lake Street Capital cut their price objective on Ballard Power Systems from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Susquehanna dropped their price objective on Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating for the company in a research report on Wednesday, October 16th. Finally, CIBC reissued an "underperformer" rating and issued a $1.60 price objective (down previously from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded down $0.06 during trading on Tuesday, reaching $1.67. The company's stock had a trading volume of 6,707,910 shares, compared to its average volume of 2,877,797. Ballard Power Systems has a twelve month low of $1.52 and a twelve month high of $4.02. The firm has a market cap of $500.03 million, a price-to-earnings ratio of -2.56 and a beta of 1.78. The business's fifty day moving average price is $1.70 and its 200-day moving average price is $2.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90.

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

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently added to or reduced their stakes in the stock. Decade Renewable Partners LP bought a new position in Ballard Power Systems in the 2nd quarter worth approximately $450,000. Van ECK Associates Corp grew its stake in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company's stock worth $5,224,000 after purchasing an additional 186,833 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Ballard Power Systems during the second quarter valued at $219,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ballard Power Systems during the second quarter valued at about $204,000. Finally, XTX Topco Ltd acquired a new stake in Ballard Power Systems in the second quarter worth about $154,000. 28.02% of the stock is owned by institutional investors and hedge funds.

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.