HC Wainwright Analysts Give Ballard Power Systems (BLDP) a $6.00 Price Target

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Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been assigned a $6.00 price target by equities research analysts at HC Wainwright in a note issued to investors on Thursday. The firm presently has a “buy” rating on the technology company’s stock. HC Wainwright’s price target would indicate a potential upside of 75.95% from the stock’s current price.

A number of other brokerages also recently weighed in on BLDP. Zacks Investment Research raised Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. BidaskClub upgraded Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, B. Riley set a $5.00 price target on Ballard Power Systems and gave the company a “buy” rating in a research note on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.58.

Shares of BLDP stock opened at $3.41 on Thursday. Ballard Power Systems has a 1-year low of $2.57 and a 1-year high of $5.93. The stock has a market cap of $536.23 million, a P/E ratio of -113.67 and a beta of 1.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 2.64.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Ballard Power Systems had a negative return on equity of 9.99% and a negative net margin of 11.58%. The company had revenue of $26.45 million for the quarter, compared to the consensus estimate of $23.33 million. equities analysts anticipate that Ballard Power Systems will post -0.07 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BLDP. KBC Group NV raised its stake in Ballard Power Systems by 104.8% in the first quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock valued at $330,000 after buying an additional 47,515 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in Ballard Power Systems by 16.6% in the first quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock valued at $500,000 after buying an additional 20,000 shares during the last quarter. Royal Bank of Canada raised its stake in Ballard Power Systems by 38.8% in the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after buying an additional 39,370 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Ballard Power Systems by 49.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after buying an additional 30,694 shares during the last quarter. Finally, Herald Investment Management Ltd raised its stake in Ballard Power Systems by 102.5% in the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after buying an additional 324,000 shares during the last quarter. Institutional investors own 3.78% 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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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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