Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus rating of “Reduce” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $3.5875.

A number of equities analysts have recently commented on the company. Lake Street Capital upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. Susquehanna increased their price target on Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a report on Wednesday, May 20th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial boosted their price objective on shares of Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research report on Wednesday, May 6th.

Hedge Funds Weigh In On Ballard Power Systems

A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 6,952 shares during the period. Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $26,000. Ground Swell Capital LLC purchased a new position in shares of Ballard Power Systems during the first quarter valued at approximately $26,000. Intesa Sanpaolo S.p.A. purchased a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $28,000. Finally, Cetera Investment Advisers bought a new position in shares of Ballard Power Systems during the first quarter valued at approximately $33,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $3.52 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -13.04 and a beta of 2.25. Ballard Power Systems has a 12 month low of $1.65 and a 12 month high of $6.57. The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $4.49 and a 200 day moving average price of $3.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The company had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $19.88 million. As a group, equities research analysts predict that Ballard Power Systems will post -0.2 earnings per share for the current year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.