HC Wainwright Reaffirms Buy Rating for Ballard Power Systems (BLDP)

HC Wainwright reaffirmed their buy rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a research report report published on Thursday morning. HC Wainwright currently has a $5.00 price objective on the technology company’s stock.

“The company continues to make progress in its heavy-duty motive market in North America. It has been successful in making inroads into other vertical markets as well, including rail and marine. We expect the company’s revenues to grow at a seven-year CAGR of approximately 31.4% from $90.6 M in 2018 to $611.8M in 2025. We value the company’s shares using a discounted cash flow (DCF) model and a discount rate of 10.8% derived from the weighted average cost of capital (WACC) for the company.”,” HC Wainwright’s analyst wrote.

Several other analysts also recently weighed in on the company. B. Riley set a $3.00 target price on Ballard Power Systems and gave the stock a hold rating in a research report on Wednesday, November 14th. ValuEngine upgraded Ballard Power Systems from a hold rating to a buy rating in a research report on Wednesday, November 7th. Zacks Investment Research downgraded Ballard Power Systems from a hold rating to a sell rating in a research report on Tuesday, November 6th. Roth Capital set a $3.00 target price on Ballard Power Systems and gave the stock a hold rating in a research report on Monday, November 5th. Finally, Cowen set a $3.00 target price on Ballard Power Systems and gave the stock a hold rating in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Ballard Power Systems has a consensus rating of Hold and a consensus price target of $3.70.

NASDAQ:BLDP opened at $2.75 on Thursday. Ballard Power Systems has a twelve month low of $2.57 and a twelve month high of $4.84. 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 released its earnings results on Wednesday, October 31st. The technology company reported ($0.03) earnings per share for the quarter, missing the 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 the consensus estimate of $31.27 million. As a group, equities research analysts forecast that Ballard Power Systems will post -0.11 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Ballard Power Systems by 37.4% in the third quarter. Morgan Stanley now owns 780,867 shares of the technology company’s stock valued at $3,356,000 after acquiring an additional 212,364 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Ballard Power Systems in the third quarter valued at about $215,000. HRT Financial LLC bought a new stake in shares of Ballard Power Systems in the third quarter valued at about $132,000. GSA Capital Partners LLP bought a new stake in shares of Ballard Power Systems in the third quarter valued at about $325,000. Finally, Virtu Financial LLC raised its holdings in shares of Ballard Power Systems by 324.2% in the third quarter. Virtu Financial LLC now owns 46,846 shares of the technology company’s stock valued at $231,000 after acquiring an additional 35,802 shares in the last quarter. Hedge funds and other institutional investors own 3.22% of the company’s stock.

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 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.

Featured Story: Why is insider trading harmful?

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply