Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) Price Target at $2.41
by Sarita Garza · The Markets DailyShares of Ballard Power Systems, Inc. (NASDAQ:BLDP – Get Free Report) (TSE:BLD) have received a consensus rating of “Reduce” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $2.4125.
A number of brokerages recently commented on BLDP. TD Securities upgraded Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research report on Friday, January 9th. TD Cowen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st.
View Our Latest Report on BLDP
Hedge Funds Weigh In On Ballard Power Systems
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its position in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Ballard Power Systems during the fourth quarter worth $26,000. Intesa Sanpaolo S.p.A. bought a new stake in Ballard Power Systems in the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd increased its holdings in Ballard Power Systems by 422.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after purchasing an additional 12,149 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Ballard Power Systems in the third quarter valued at about $43,000. 28.02% of the stock is owned by institutional investors.
Ballard Power Systems Stock Down 2.8%
NASDAQ:BLDP opened at $2.41 on Friday. The company has a market cap of $724.90 million, a price-to-earnings ratio of -8.03 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.14 and a current ratio of 9.86. The stock’s fifty day moving average price is $2.34 and its two-hundred day moving average price is $2.72. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $4.10.
Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last released its earnings results on Thursday, March 12th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%.The company had revenue of $33.28 million during the quarter, compared to analysts’ expectations of $32.24 million. On average, analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current year.
About Ballard Power Systems
Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.
Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.