Ballard Power Systems Inc (NASDAQ:BLDP) Receives $3.70 Average Target Price from Brokerages

Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $3.70.

BLDP has been the subject of several research analyst reports. Roth Capital lowered Ballard Power Systems from a “neutral” rating to a “sell” rating and set a $3.00 price objective for the company. in a report on Monday, July 1st. They noted that the move was a valuation call. BidaskClub lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Wednesday, July 3rd.

Institutional investors have recently made changes to their positions in the company. Candriam Luxembourg S.C.A. acquired a new stake in shares of Ballard Power Systems in the first quarter valued at $33,000. Jane Street Group LLC lifted its holdings in shares of Ballard Power Systems by 57.3% during the fourth quarter. Jane Street Group LLC now owns 16,149 shares of the technology company’s stock valued at $39,000 after purchasing an additional 5,882 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Ballard Power Systems by 64.0% during the fourth quarter. Cetera Advisors LLC now owns 21,138 shares of the technology company’s stock valued at $47,000 after purchasing an additional 8,248 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Ballard Power Systems during the fourth quarter valued at $81,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Ballard Power Systems by 87.6% during the first quarter. Toronto Dominion Bank now owns 32,737 shares of the technology company’s stock valued at $99,000 after purchasing an additional 15,286 shares during the last quarter. Institutional investors and hedge funds own 2.70% of the company’s stock.

BLDP stock traded up $0.35 during trading on Tuesday, reaching $4.50. 2,170,823 shares of the company’s stock were exchanged, compared to its average volume of 857,940. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.67 and a current ratio of 5.35. Ballard Power Systems has a 1-year low of $2.25 and a 1-year high of $4.62. The company has a fifty day simple moving average of $3.99.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $23.70 million during the quarter, compared to analyst estimates of $22.42 million. Ballard Power Systems had a negative return on equity of 13.81% and a negative net margin of 40.67%. The company’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Equities research analysts predict that Ballard Power Systems will post -0.16 earnings per share for the current fiscal year.

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.

Featured Article: Does a trade war provide a risk to the global economy?

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.