Ballard Power Systems (BLDP) Given a $5.00 Price Target at B. Riley

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Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been given a $5.00 price target by analysts at B. Riley in a report released on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s price target indicates a potential upside of 29.20% from the stock’s current price.

A number of other analysts also recently issued reports on BLDP. Zacks Investment Research raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Monday, May 7th. HC Wainwright set a $6.00 price target on shares of Ballard Power Systems and gave the company a “buy” rating in a report on Tuesday, June 12th. Finally, BidaskClub raised shares of Ballard Power Systems from a “strong sell” rating to a “sell” rating in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Ballard Power Systems presently has an average rating of “Hold” and a consensus target price of $4.58.

Shares of NASDAQ BLDP traded up $0.01 during trading on Tuesday, reaching $3.87. 86,169 shares of the company traded hands, compared to its average volume of 822,908. The company has a quick ratio of 1.83, a current ratio of 2.64 and a debt-to-equity ratio of 0.05. The company has a market cap of $632.97 million, a PE ratio of -128.33 and a beta of 1.69. Ballard Power Systems has a 52-week low of $2.57 and a 52-week high of $5.93.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Herald Investment Management Ltd boosted its holdings in shares of 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 worth $1,817,000 after buying an additional 324,000 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of 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 worth $500,000 after buying an additional 39,370 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its holdings in shares of 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 worth $500,000 after buying an additional 20,000 shares during the last quarter. KBC Group NV boosted its holdings in shares of Ballard Power Systems by 104.8% in the first quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock worth $330,000 after buying an additional 47,515 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Ballard Power Systems by 49.5% in the second 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 during the last quarter. 3.78% of the stock is currently owned by institutional investors.

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.

Further Reading: Fiduciary

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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