Ballard Power Systems (BLDP) Given a $6.00 Price Target by B. Riley Analysts

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been given a $6.00 price target by equities researchers at B. Riley in a note issued to investors on Friday, January 5th. The firm presently has a “buy” rating on the technology company’s stock. B. Riley’s target price points to a potential upside of 40.52% from the company’s current price.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Zacks Investment Research downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Cowen reissued a “hold” rating on shares of Ballard Power Systems in a research report on Friday, November 3rd. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Ballard Power Systems in a research report on Friday, November 3rd. Finally, Roth Capital set a $5.00 price objective on shares of Ballard Power Systems and gave the company a “hold” rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Ballard Power Systems currently has a consensus rating of “Hold” and an average target price of $5.50.

Shares of Ballard Power Systems (NASDAQ:BLDP) opened at $4.27 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.70 and a quick ratio of 2.17. Ballard Power Systems has a 52 week low of $1.81 and a 52 week high of $5.93. The stock has a market cap of $759.93, a price-to-earnings ratio of -106.75 and a beta of 2.50.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.36%. The firm had revenue of $31.90 million for the quarter, compared to analyst estimates of $28.33 million. During the same period in the previous year, the business earned ($0.02) EPS. The company’s revenue was up 54.9% compared to the same quarter last year. equities research analysts anticipate that Ballard Power Systems will post -0.04 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in BLDP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ballard Power Systems during the 2nd quarter worth about $105,000. First Manhattan Co. bought a new stake in shares of Ballard Power Systems during the 3rd quarter worth about $126,000. Jane Street Group LLC bought a new stake in shares of Ballard Power Systems during the 3rd quarter worth about $141,000. First Trust Advisors LP boosted its holdings in shares of Ballard Power Systems by 16.9% during the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after buying an additional 26,314 shares during the period. Finally, PEAK6 Investments L.P. boosted its holdings in shares of Ballard Power Systems by 556.3% during the 3rd quarter. PEAK6 Investments L.P. now owns 216,984 shares of the technology company’s stock worth $1,015,000 after buying an additional 183,921 shares during the period. 3.06% of the stock is owned by institutional investors and hedge funds.

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Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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