Ballard Power Systems Inc. (NASDAQ:BLDP) has been assigned a consensus rating of “Buy” from the six research firms that are covering the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.41.
A number of research firms have recently weighed in on BLDP. FBR & Co reissued a “hold” rating and issued a $1.50 price target on shares of Ballard Power Systems in a research note on Tuesday, July 12th. Roth Capital restated a “buy” rating and issued a $2.00 price objective on shares of Ballard Power Systems in a research report on Thursday, June 30th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Monday, August 1st. Finally, TheStreet upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 26th.
Shares of Ballard Power Systems (NASDAQ:BLDP) traded down 4.42% during mid-day trading on Tuesday, hitting $2.38. The company’s stock had a trading volume of 2,268,361 shares. The stock’s market cap is $373.53 million. The company has a 50-day moving average price of $2.07 and a 200-day moving average price of $1.63. Ballard Power Systems has a 1-year low of $1.11 and a 1-year high of $2.53.
Ballard Power Systems (NASDAQ:BLDP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The company had revenue of $17.60 million for the quarter, compared to the consensus estimate of $18.32 million. Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. Analysts predict that Ballard Power Systems will post ($0.15) EPS for the current fiscal year.
An institutional investor recently raised its position in Ballard Power Systems stock. Royal Bank of Canada boosted its position in Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned approximately 0.06% of Ballard Power Systems worth $124,000 as of its most recent filing with the SEC. 4.01% of the stock is owned by institutional investors.
Ballard Power Systems Company Profile
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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