Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Consensus Recommendation of “Reduce” from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the sixteen brokerages that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $3.11.

A number of brokerages have weighed in on BLDP. Wells Fargo & Company lowered their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. BMO Capital Markets lowered their target price on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a report on Tuesday, August 13th. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Lake Street Capital reduced their price target on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $2.50 to $1.50 in a report on Monday, August 12th.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Ballard Power Systems by 2.9% in the fourth quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after acquiring an additional 7,060 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after buying an additional 8,549 shares during the period. Endowment Wealth Management Inc. bought a new stake in shares of Ballard Power Systems during the first quarter worth approximately $28,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Ballard Power Systems by 75.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock valued at $90,000 after buying an additional 10,484 shares during the period. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.67 on Monday. The firm has a market cap of $499.98 million, a P/E ratio of -2.69 and a beta of 1.78. The firm’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $2.50. Ballard Power Systems has a twelve month low of $1.61 and a twelve month high of $4.02. 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) (TSE:BLD) last released its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating 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 company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

About Ballard Power Systems

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.