Ballard Power Systems’ (BLDP) Market Perform Rating Reiterated at Cormark

Cormark reaffirmed their market perform rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a research report report published on Monday morning, MarketBeat Ratings reports.

Several other research analysts have also recently commented on the stock. Truist Financial decreased their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a hold rating for the company in a report on Tuesday, August 13th. Lake Street Capital decreased their price objective on shares of Ballard Power Systems from $15.00 to $10.00 and set a buy rating for the company in a research note on Tuesday, August 13th. Cibc World Mkts downgraded shares of Ballard Power Systems from a hold rating to a strong sell rating in a research note on Tuesday, August 13th. Raymond James reduced their target price on Ballard Power Systems from $4.00 to $3.00 and set a market perform rating for the company in a report on Wednesday, August 14th. Finally, Susquehanna lowered their price target on Ballard Power Systems from $3.00 to $2.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $3.11.

Ballard Power Systems Trading Up 1.2 %

Shares of NASDAQ:BLDP opened at $1.72 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The stock has a market capitalization of $514.99 million, a price-to-earnings ratio of -2.77 and a beta of 1.78. Ballard Power Systems has a 1-year low of $1.61 and a 1-year high of $4.09. The company has a 50 day moving average price of $2.00 and a 200 day moving average price of $2.53.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. Ballard Power Systems’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts anticipate that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLDP. Endowment Wealth Management Inc. acquired a new stake in shares of Ballard Power Systems in the first quarter worth $28,000. Tidal Investments LLC acquired a new position in Ballard Power Systems during the 1st quarter worth $39,000. Scientech Research LLC bought a new stake in Ballard Power Systems during the second quarter valued at about $52,000. Daiwa Securities Group Inc. grew its position in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems in the first quarter worth about $59,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Ballard Power Systems

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.