Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Reduce” by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus rating of “Reduce” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.92.

A number of research analysts recently issued reports on the company. BMO Capital Markets cut their price target on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a report on Tuesday, August 13th. Jefferies Financial Group cut their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price target for the company from $2.50 to $1.50 in a report on Monday, August 12th. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Finally, CIBC reissued an “underperformer” rating and set a $1.60 price objective (down from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors have recently modified their holdings of BLDP. Endowment Wealth Management Inc. acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $28,000. Tidal Investments LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $39,000. Westwood Holdings Group Inc. acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $59,000. Scientech Research LLC acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at approximately $52,000. Finally, Daiwa Securities Group Inc. grew its position in shares of Ballard Power Systems by 149.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the period. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Stock Down 4.2 %

Shares of NASDAQ:BLDP opened at $1.61 on Friday. Ballard Power Systems has a 52 week low of $1.60 and a 52 week high of $4.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The company’s fifty day moving average is $1.81 and its 200-day moving average is $2.40. The company has a market capitalization of $482.05 million, a PE ratio of -2.60 and a beta of 1.78.

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