HC Wainwright Analysts Give Ballard Power Systems (BLDP) a $5.00 Price Target

HC Wainwright set a $5.00 price objective on Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a research report released on Friday. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on the stock. B. Riley set a $5.00 price objective on shares of Ballard Power Systems and gave the company a buy rating in a research note on Friday, August 3rd. BidaskClub upgraded shares of Ballard Power Systems from a hold rating to a buy rating in a research note on Saturday, September 22nd. ValuEngine upgraded shares of Ballard Power Systems from a hold rating to a buy rating in a research note on Monday, September 17th. Zacks Investment Research lowered shares of Ballard Power Systems from a strong-buy rating to a hold rating in a research note on Wednesday, October 31st. Finally, TheStreet lowered shares of Ballard Power Systems from a c- rating to a d+ rating in a research note on Thursday, October 11th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Ballard Power Systems has a consensus rating of Hold and a consensus target price of $3.70.

NASDAQ:BLDP opened at $2.74 on Friday. The stock has a market cap of $493.09 million, a price-to-earnings ratio of -91.33 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.52 and a quick ratio of 1.62. Ballard Power Systems has a fifty-two week low of $2.57 and a fifty-two week high of $5.93.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Wednesday, October 31st. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $21.57 million for the quarter, compared to the consensus estimate of $31.27 million. Ballard Power Systems had a negative net margin of 17.29% and a negative return on equity of 14.64%. Equities research analysts expect that Ballard Power Systems will post -0.07 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Global X Management Co LLC bought a new stake in shares of Ballard Power Systems in the second quarter worth approximately $231,000. Commerzbank Aktiengesellschaft FI grew its stake 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 acquiring an additional 30,694 shares during the period. Alps Advisors Inc. grew its stake in shares of Ballard Power Systems by 377.6% in the third quarter. Alps Advisors Inc. now owns 72,775 shares of the technology company’s stock worth $313,000 after acquiring an additional 57,537 shares during the period. Royal Bank of Canada grew its stake 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 acquiring an additional 39,370 shares during the period. Finally, Herald Investment Management Ltd grew its stake 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 acquiring an additional 324,000 shares during the period. Hedge funds and other institutional investors own 3.77% 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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