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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.49.

Several equities analysts have issued reports on BLDP shares. Piper Sandler dropped their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research report on Wednesday, March 13th. Wells Fargo & Company dropped their target price on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. Jefferies Financial Group lowered their price target on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a report on Wednesday, May 8th. TD Securities upped their price target on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, CIBC lowered their price target on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BLDP. Endowment Wealth Management Inc. purchased a new position in shares of Ballard Power Systems during the 1st quarter worth $28,000. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the 4th quarter worth $31,000. FNY Investment Advisers LLC lifted its stake in shares of Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after purchasing an additional 10,000 shares during the period. Tidal Investments LLC purchased a new position in shares of Ballard Power Systems during the 1st quarter worth $39,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Ballard Power Systems during the 1st quarter worth $59,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $2.37 on Wednesday. The company has a current ratio of 11.66, a quick ratio of 10.88 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $2.76 and its two-hundred day moving average is $3.00. Ballard Power Systems has a 12-month low of $2.14 and a 12-month high of $5.11.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The business had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Ballard Power Systems will post -0.51 earnings per share for the current fiscal 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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.