Roth Capital Analysts Give Ballard Power Systems (BLDP) a $3.00 Price Target

Roth Capital set a $3.00 price objective on Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a report released on Monday. The brokerage currently has a hold rating on the technology company’s stock.

Several other equities analysts have also issued reports on BLDP. BidaskClub upgraded Ballard Power Systems from a strong sell rating to a sell rating in a research note on Thursday, July 19th. HC Wainwright set a $6.00 price target on Ballard Power Systems and gave the company a buy rating in a research note on Friday, August 3rd. B. Riley set a $5.00 price target on Ballard Power Systems and gave the company a buy rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a buy rating and set a $3.50 price target on the stock in a research note on Wednesday, August 8th. Finally, ValuEngine upgraded Ballard Power Systems from a hold rating to a buy rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $3.70.

Shares of BLDP opened at $2.92 on Monday. Ballard Power Systems has a 12-month low of $2.57 and a 12-month high of $5.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.62 and a current ratio of 2.52.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, October 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Ballard Power Systems had a negative net margin of 17.29% and a negative return on equity of 14.64%. The firm had revenue of $21.57 million for the quarter, compared to the consensus estimate of $31.27 million. On average, equities analysts forecast that Ballard Power Systems will post -0.1 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI grew its stake in shares of Ballard Power Systems by 49.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after purchasing an additional 30,694 shares during the period. Royal Bank of Canada grew its stake in shares of Ballard Power Systems by 38.8% in the 1st quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after purchasing an additional 39,370 shares during the period. Alps Advisors Inc. grew its stake in shares of Ballard Power Systems by 377.6% in the 3rd quarter. Alps Advisors Inc. now owns 72,775 shares of the technology company’s stock valued at $313,000 after purchasing an additional 57,537 shares during the period. ING Groep NV bought a new stake in shares of Ballard Power Systems in the 3rd quarter valued at approximately $254,000. Finally, Global X Management Co LLC bought a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $231,000. Institutional investors own 3.77% 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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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