Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Price Target at $3.97

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus recommendation of “Reduce” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $3.97.

A number of research firms have issued reports on BLDP. Raymond James cut their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Piper Sandler cut their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group cut their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. TD Securities cut their target price on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, March 12th. Finally, Citigroup cut their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Ballard Power Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,218,835 shares of the technology company’s stock worth $34,110,000 after purchasing an additional 97,362 shares during the last quarter. Legal & General Group Plc increased its stake in Ballard Power Systems by 2.8% in the fourth quarter. Legal & General Group Plc now owns 5,970,284 shares of the technology company’s stock valued at $22,231,000 after acquiring an additional 162,845 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Ballard Power Systems by 27.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock worth $14,353,000 after purchasing an additional 849,311 shares in the last quarter. Norges Bank bought a new position in Ballard Power Systems during the fourth quarter worth about $17,983,000. Finally, Morgan Stanley boosted its holdings in Ballard Power Systems by 20.9% during the fourth quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after purchasing an additional 638,824 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Stock Up 4.5 %

Shares of NASDAQ:BLDP opened at $2.78 on Monday. The firm has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $3.42. Ballard Power Systems has a 52 week low of $2.66 and a 52 week high of $5.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. The company has a market cap of $831.14 million, a PE ratio of -4.71 and a beta of 1.67.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The firm had revenue of $46.80 million during the quarter, compared to analyst estimates of $26.32 million. During the same period in the prior year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 131.7% on a year-over-year basis. As a group, research analysts expect that Ballard Power Systems will post -0.51 earnings per share 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 power generation.