Analysts Set Ballard Power Systems, Inc. (NASDAQ:BLDP) Price Target at $2.48

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.6857.

Several research analysts recently weighed in on BLDP shares. Wells Fargo & Company upped their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a report on Friday, March 27th. TD Cowen raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, January 21st. Finally, TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price for the company in a report on Friday, January 9th.

Ballard Power Systems Stock Performance

Shares of NASDAQ:BLDP traded up $0.16 during midday trading on Tuesday, hitting $3.33. The company had a trading volume of 1,150,897 shares, compared to its average volume of 3,195,891. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.86 and a quick ratio of 9.14. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -10.98 and a beta of 1.68. Ballard Power Systems has a 12-month low of $1.11 and a 12-month high of $4.10. The company has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.74.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $33.28 million during the quarter, compared to analyst estimates of $32.24 million. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%. On average, equities research analysts expect that Ballard Power Systems will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of Ballard Power Systems in the 4th quarter valued at about $26,000. Intesa Sanpaolo S.p.A. purchased a new stake in Ballard Power Systems in the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its position in Ballard Power Systems by 422.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock worth $38,000 after purchasing an additional 12,149 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Ballard Power Systems in the 3rd quarter worth about $43,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

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.