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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has earned an average rating of “Reduce” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $3.97.

Several equities analysts have issued reports on BLDP shares. TD Securities cut their target price on Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, March 12th. Piper Sandler cut their price objective on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research report on Wednesday, March 13th. Raymond James decreased their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Citigroup cut their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, Jefferies Financial Group decreased their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, January 30th.

Ballard Power Systems Price Performance

Shares of BLDP opened at $2.61 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. The company has a 50 day moving average price of $2.98 and a 200-day moving average price of $3.31. Ballard Power Systems has a fifty-two week low of $2.53 and a fifty-two week high of $5.68. The stock has a market capitalization of $781.14 million, a PE ratio of -4.42 and a beta of 1.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company had revenue of $46.80 million for the quarter, compared to analysts’ expectations of $26.32 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s quarterly revenue was up 131.7% on a year-over-year basis. Equities analysts predict that Ballard Power Systems will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Ballard Power Systems by 1.7% during the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after purchasing an additional 148,321 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ballard Power Systems by 27.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after buying an additional 849,311 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Ballard Power Systems by 18.2% during the 4th quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company’s stock valued at $7,732,000 after buying an additional 321,624 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ballard Power Systems by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after buying an additional 89,643 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Ballard Power Systems by 49.5% in the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after buying an additional 236,449 shares during the last quarter. 28.02% of the stock is currently 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.