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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.75.

BLDP has been the subject of a number of recent research reports. Truist initiated coverage on shares of Ballard Power Systems in a research note on Friday, October 15th. They set a “hold” rating and a $18.00 price target for the company. Piper Sandler decreased their price target on shares of Ballard Power Systems from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 23rd. Citigroup started coverage on shares of Ballard Power Systems in a research note on Friday, November 19th. They issued an “underweight” rating for the company. B. Riley reduced their target price on shares of Ballard Power Systems from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, November 10th. Finally, Truist Securities started coverage on shares of Ballard Power Systems in a research note on Friday, October 15th. They issued a “hold” rating and a $18.00 target price for the company.

Ballard Power Systems stock opened at $10.98 on Friday. The company has a market capitalization of $3.27 billion, a PE ratio of -39.21 and a beta of 1.52. The firm’s fifty day moving average is $13.97 and its 200 day moving average is $15.27. The company has a quick ratio of 20.12, a current ratio of 20.92 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 12-month low of $10.69 and a 12-month high of $42.28.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Sunday, November 7th. The technology company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The business had revenue of $25.20 million for the quarter, compared to the consensus estimate of $25.21 million. Ballard Power Systems had a negative net margin of 88.24% and a negative return on equity of 6.71%. During the same quarter last year, the firm posted ($0.05) EPS. Sell-side analysts expect that Ballard Power Systems will post -0.31 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Ballard Power Systems by 5.2% during the second quarter. Vanguard Group Inc. now owns 7,496,749 shares of the technology company’s stock valued at $135,841,000 after buying an additional 368,213 shares during the period. Nicola Wealth Management LTD. lifted its holdings in Ballard Power Systems by 59.5% during the second quarter. Nicola Wealth Management LTD. now owns 295,000 shares of the technology company’s stock valued at $5,351,000 after purchasing an additional 110,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in Ballard Power Systems by 4.3% during the second quarter. Marshall Wace LLP now owns 3,190,163 shares of the technology company’s stock valued at $57,807,000 after purchasing an additional 130,511 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Ballard Power Systems by 1.3% during the second quarter. APG Asset Management N.V. now owns 330,006 shares of the technology company’s stock valued at $5,043,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Amundi purchased a new stake in Ballard Power Systems during the second quarter valued at about $4,222,000. Institutional investors own 27.44% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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