Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by equities researchers at Roth Capital from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $20.00 price objective on the technology company’s stock, up from their previous price objective of $10.00. Roth Capital’s price objective indicates a potential upside of 29.87% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Lake Street Capital raised their target price on shares of Ballard Power Systems from $6.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. BidaskClub upgraded Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. Zacks Investment Research cut Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, June 15th. ValuEngine lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Ballard Power Systems in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.85.
Shares of BLDP stock opened at $15.40 on Monday. Ballard Power Systems has a fifty-two week low of $3.92 and a fifty-two week high of $15.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.89 and a current ratio of 4.43. The stock’s fifty day moving average is $11.82 and its two-hundred day moving average is $9.89. The firm has a market capitalization of $3.75 billion, a P/E ratio of -90.59 and a beta of 1.57.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The business had revenue of $24.00 million during the quarter, compared to analyst estimates of $26.00 million. Ballard Power Systems had a negative net margin of 35.47% and a negative return on equity of 15.28%. On average, equities analysts forecast that Ballard Power Systems will post -0.18 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its position in Ballard Power Systems by 23.4% in the first quarter. Legal & General Group Plc now owns 6,339 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,202 shares during the period. Stifel Financial Corp grew its holdings in shares of Ballard Power Systems by 4.4% during the 4th quarter. Stifel Financial Corp now owns 47,490 shares of the technology company’s stock worth $340,000 after purchasing an additional 2,000 shares during the period. Geode Capital Management LLC increased its position in shares of Ballard Power Systems by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 183,454 shares of the technology company’s stock worth $1,310,000 after purchasing an additional 2,802 shares during the last quarter. UBS Group AG raised its holdings in Ballard Power Systems by 7.6% in the 1st quarter. UBS Group AG now owns 42,919 shares of the technology company’s stock valued at $326,000 after buying an additional 3,021 shares during the period. Finally, Westside Investment Management Inc. acquired a new position in Ballard Power Systems in the first quarter valued at about $25,000. 6.60% of the stock is owned by institutional investors.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.
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