A number of other brokerages also recently issued reports on BLDP. Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a buy rating and set a $2.50 price target for the company in a research report on Tuesday. TheStreet raised Ballard Power Systems from a sell rating to a hold rating in a research note on Friday, August 26th. Finally, Roth Capital reaffirmed a buy rating and issued a $2.50 price target on shares of Ballard Power Systems in a research note on Sunday, August 14th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $2.21.
Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 2.11 on Tuesday. The company’s market capitalization is $331.15 million. The firm has a 50-day moving average of $2.04 and a 200-day moving average of $1.61. Ballard Power Systems has a one year low of $1.11 and a one year high of $2.38.
Ballard Power Systems (NASDAQ:BLDP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. The business earned $17.60 million during the quarter, compared to the consensus estimate of $18.32 million. Equities research analysts expect that Ballard Power Systems will post ($0.15) EPS for the current fiscal year.
A hedge fund recently raised its stake in Ballard Power Systems stock. Renaissance Technologies LLC boosted its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) by 10.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 326,300 shares of the company’s stock after buying an additional 30,600 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Ballard Power Systems worth $455,000 at the end of the most recent reporting period. 4.01% of the stock is owned by institutional investors and hedge funds.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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