Roth Capital Analysts Give Ballard Power Systems, Inc. (BLDP) a $5.00 Price Target

Roth Capital set a $5.00 price target on Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) in a research note published on Wednesday. The brokerage currently has a hold rating on the technology company’s stock.

BLDP has been the topic of several other reports. Cowen and Company lifted their price target on shares of Ballard Power Systems from $3.00 to $4.50 and gave the company a market perform rating in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Ballard Power Systems from a buy rating to a hold rating in a research report on Monday, July 17th. FBR & Co reissued a buy rating and issued a $6.00 price objective on shares of Ballard Power Systems in a research report on Friday, October 27th. HC Wainwright reissued a buy rating and issued a $6.00 price objective (up previously from $3.00) on shares of Ballard Power Systems in a research report on Friday, September 15th. Finally, BidaskClub downgraded shares of Ballard Power Systems from a buy rating to a hold rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $5.40.

Shares of Ballard Power Systems (BLDP) opened at $5.64 on Wednesday.

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 4.37%. 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. research analysts predict that Ballard Power Systems will post -0.05 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after acquiring an additional 26,314 shares during the period. KCG Holdings Inc. grew its position in shares of Ballard Power Systems by 220.0% in the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after acquiring an additional 140,603 shares during the period. First Manhattan Co. bought a new position in shares of Ballard Power Systems in the 3rd quarter valued at about $126,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $105,000. Finally, Renaissance Technologies LLC grew its position in shares of Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after acquiring an additional 137,200 shares during the period. 2.80% of the stock is owned by institutional investors.

About Ballard Power Systems

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.

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