Brokerages Set Ballard Power Systems Inc (BLDP) Price Target at $3.50

Shares of Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $3.50.

A number of research analysts have issued reports on BLDP shares. B. Riley set a $5.00 price target on Ballard Power Systems and gave the stock a “buy” rating in a research report on Friday, August 3rd. HC Wainwright set a $6.00 price target on Ballard Power Systems and gave the stock a “buy” rating in a research report on Friday, August 3rd. ValuEngine upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. BidaskClub upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Finally, Zacks Investment Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 31st.

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised 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 worth $500,000 after buying an additional 39,370 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised 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 worth $264,000 after buying an additional 30,694 shares in the last quarter. Herald Investment Management Ltd raised its stake in shares of Ballard Power Systems by 102.5% in the 2nd quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock worth $1,817,000 after buying an additional 324,000 shares in the last quarter. Global X Management Co LLC bought a new stake in shares of Ballard Power Systems in the 2nd quarter worth $231,000. Finally, Alps Advisors Inc. raised 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 worth $313,000 after buying an additional 57,537 shares in the last quarter. Institutional investors own 3.40% of the company’s stock.

BLDP stock remained flat at $$2.85 during trading on Thursday. The company’s stock had a trading volume of 428,880 shares, compared to its average volume of 966,705. The company has a quick ratio of 1.62, a current ratio of 2.52 and a debt-to-equity ratio of 0.05. Ballard Power Systems has a one year low of $2.57 and a one year high of $5.34.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). Ballard Power Systems had a negative return on equity of 14.64% and a negative net margin of 17.29%. The business had revenue of $21.57 million for the quarter, compared to analyst estimates of $31.27 million. Equities analysts expect that Ballard Power Systems will post -0.11 EPS for the current 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 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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