Shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) have earned an average rating of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.96.
Several research firms have recently weighed in on BLDP. Cowen lifted their target price on Ballard Power Systems to $9.00 in a research report on Monday, August 15th. TD Securities cut their price target on Ballard Power Systems from $12.50 to $11.00 and set a “speculative buy” rating on the stock in a research note on Monday, October 3rd. Citigroup cut their price target on Ballard Power Systems from $10.00 to $7.50 in a research note on Tuesday, October 4th. National Bankshares cut their price target on Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, August 11th. Finally, Raymond James lowered Ballard Power Systems from an “outperform” rating to a “market perform” rating and raised their price target for the company from $9.00 to $10.00 in a research note on Wednesday, August 10th.
Hedge Funds Weigh In On Ballard Power Systems
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Ballard Power Systems during the first quarter worth about $25,000. Millburn Ridgefield Corp grew its stake in shares of Ballard Power Systems by 238.0% during the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock worth $52,000 after acquiring an additional 3,116 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Ballard Power Systems by 238.0% during the first quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock worth $52,000 after acquiring an additional 3,116 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Ballard Power Systems by 171.6% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,538 shares of the technology company’s stock worth $41,000 after acquiring an additional 4,131 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Ballard Power Systems by 57.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 7,010 shares of the technology company’s stock worth $82,000 after acquiring an additional 2,560 shares during the last quarter. Hedge funds and other institutional investors own 28.25% of the company’s stock.
Ballard Power Systems Stock Down 2.8 %
Shares of BLDP opened at $5.49 on Monday. The company has a market cap of $1.64 billion, a PE ratio of -9.47 and a beta of 1.77. The business has a fifty day moving average of $7.30 and a 200 day moving average of $7.64. Ballard Power Systems has a 52-week low of $5.26 and a 52-week high of $19.66. The company has a quick ratio of 14.36, a current ratio of 15.16 and a debt-to-equity ratio of 0.01.
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last released its earnings results on Wednesday, August 10th. The technology company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Ballard Power Systems had a negative return on equity of 12.13% and a negative net margin of 164.44%. The business had revenue of $20.90 million for the quarter, compared to the consensus estimate of $24.16 million. During the same quarter last year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Ballard Power Systems will post -0.61 EPS for the current year.
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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.
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