Ballard Power Systems Inc (BLDP) Receives $3.50 Consensus Target Price from Brokerages

Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) has received an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $3.50.

Several research analysts recently commented on BLDP shares. BidaskClub raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Ballard Power Systems in a research note on Thursday, December 13th. TheStreet raised shares of Ballard Power Systems from a “d” rating to a “c-” rating in a research note on Monday, March 25th. Finally, Zacks Investment Research downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th.

Shares of NASDAQ BLDP traded up $0.01 during mid-day trading on Wednesday, hitting $3.02. The stock had a trading volume of 25,425 shares, compared to its average volume of 698,218. The company has a quick ratio of 4.87, a current ratio of 5.48 and a debt-to-equity ratio of 0.02. Ballard Power Systems has a 1 year low of $2.25 and a 1 year high of $4.62. The company has a market cap of $541.74 million, a price-to-earnings ratio of -23.15 and a beta of 2.16.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Wednesday, March 6th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Ballard Power Systems had a negative return on equity of 15.06% and a negative net margin of 28.30%. The firm had revenue of $28.50 million during the quarter, compared to analysts’ expectations of $23.50 million. Equities research analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of BLDP. CIBC World Markets Inc. purchased a new position in Ballard Power Systems during the 3rd quarter valued at $174,000. Virtu Financial LLC increased its position in Ballard Power Systems by 324.2% during the 3rd quarter. Virtu Financial LLC now owns 46,846 shares of the technology company’s stock valued at $231,000 after purchasing an additional 35,802 shares during the period. GSA Capital Partners LLP purchased a new position in Ballard Power Systems during the 3rd quarter valued at $325,000. HRT Financial LLC purchased a new position in Ballard Power Systems during the 3rd quarter valued at $132,000. Finally, Lombard Odier Asset Management USA Corp purchased a new position in Ballard Power Systems during the 3rd quarter valued at $215,000. 2.76% 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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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