Ballard Power Systems’ (BLDP) “Hold” Rating Reiterated at Eight Capital

Eight Capital restated their hold rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a report issued on Tuesday, Price Targets.com reports. Eight Capital currently has a C$18.00 price target on the technology company’s stock.

BLDP has been the topic of a number of other research reports. COKER & PALMER reaffirmed a sector underperform rating on shares of Ballard Power Systems in a research report on Tuesday, July 13th. Zacks Investment Research lowered shares of Ballard Power Systems from a hold rating to a sell rating in a research note on Friday, July 16th. Wolfe Research assumed coverage on shares of Ballard Power Systems in a research report on Tuesday, August 31st. They set an underperform rating and a $16.00 target price on the stock. Raymond James reaffirmed an outperform rating and set a $25.00 price target on shares of Ballard Power Systems in a report on Tuesday, August 10th. Finally, National Bankshares decreased their price target on Ballard Power Systems from $27.00 to $26.00 and set an outperform rating for the company in a report on Monday, August 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $27.07.

Shares of Ballard Power Systems stock opened at $15.51 on Tuesday. The firm’s 50 day moving average price is $15.92 and its 200-day moving average price is $18.62. The company has a market cap of $4.62 billion, a P/E ratio of -67.43 and a beta of 1.40. The company has a quick ratio of 23.08, a current ratio of 23.77 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 52-week low of $12.80 and a 52-week high of $42.28.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Thursday, August 5th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ballard Power Systems had a negative return on equity of 6.23% and a negative net margin of 68.18%. As a group, equities research analysts forecast that Ballard Power Systems will post -0.25 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Ballard Power Systems during the 1st quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. bought a new position in Ballard Power Systems in the 2nd quarter valued at $30,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Ballard Power Systems during the second quarter worth $36,000. Howe & Rusling Inc. bought a new stake in shares of Ballard Power Systems during the first quarter worth $55,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Ballard Power Systems during the second quarter worth $41,000. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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