Ballard Power Systems Inc. (NASDAQ:BLDP) Given Average Rating of “Reduce” by Analysts

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average rating of “Reduce” by the fifteen analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.89.

Several brokerages have recently weighed in on BLDP. Susquehanna lowered their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday. BMO Capital Markets cut their target price on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. National Bankshares cut their target price on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Finally, CIBC reissued an “underperformer” rating and set a $1.60 price objective (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP opened at $1.73 on Tuesday. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.52 and a 12 month high of $4.02. The company has a 50 day simple moving average of $1.70 and a two-hundred day simple moving average of $2.23. The stock has a market cap of $518.00 million, a price-to-earnings ratio of -2.75 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ballard Power Systems by 12.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after purchasing an additional 32,909 shares during the period. 3Chopt Investment Partners LLC purchased a new position in shares of Ballard Power Systems during the 2nd quarter valued at approximately $219,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at approximately $204,000. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at approximately $52,000. Finally, Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at approximately $450,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

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. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.