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

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $1.5136.

BLDP has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. Susquehanna increased their target price on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. National Bank Financial raised shares of Ballard Power Systems to a “hold” rating in a research note on Sunday, June 8th. Finally, BMO Capital Markets raised their price target on shares of Ballard Power Systems from $1.00 to $1.10 and gave the company an “underperform” rating in a research note on Tuesday, August 12th.

Ballard Power Systems Trading Down 0.7%

BLDP stock opened at $2.72 on Friday. The company’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $1.65. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.17. The firm has a market cap of $817.58 million, a P/E ratio of -2.75 and a beta of 1.73.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The business had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. As a group, equities analysts forecast that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLDP. Vanguard Personalized Indexing Management LLC lifted its position in Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after acquiring an additional 5,482 shares during the last quarter. Alps Advisors Inc. lifted its position in Ballard Power Systems by 2.1% in the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company’s stock valued at $437,000 after acquiring an additional 8,265 shares during the last quarter. Amundi lifted its position in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares during the last quarter. Mackenzie Financial Corp lifted its position in Ballard Power Systems by 8.5% in the first quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company’s stock valued at $136,000 after acquiring an additional 9,626 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock valued at $37,000 after acquiring an additional 13,094 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.