Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $4.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price increased by Raymond James Financial from $2.40 to $4.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a “market perform” rating on the technology company’s stock. Raymond James Financial’s price objective suggests a potential downside of 15.16% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. ATB Cormark Capital Markets raised their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research note on Wednesday. TD Cowen increased their price objective on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday. TD Securities raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a research report on Friday, January 9th. Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $3.00 to $5.00 in a research report on Tuesday. Finally, National Bank Financial lifted their price objective on shares of Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems currently has an average rating of “Reduce” and an average target price of $3.51.

Ballard Power Systems Stock Up 8.9%

BLDP stock traded up $0.39 during trading on Wednesday, reaching $4.72. 12,046,605 shares of the stock were exchanged, compared to its average volume of 3,707,806. The firm’s 50 day moving average is $2.61 and its 200 day moving average is $2.73. The firm has a market cap of $1.42 billion, a P/E ratio of -15.72 and a beta of 1.94. The company has a current ratio of 9.86, a quick ratio of 9.14 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.18 and a twelve month high of $4.76.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%.The firm had revenue of $18.98 million during the quarter, compared to the consensus estimate of $19.88 million. As a group, research analysts forecast that Ballard Power Systems will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. Rockefeller Capital Management L.P. boosted its holdings in shares of Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after buying an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in Ballard Power Systems during the fourth quarter worth about $26,000. Ground Swell Capital LLC bought a new stake in Ballard Power Systems in the first quarter worth about $26,000. Intesa Sanpaolo S.p.A. bought a new stake in Ballard Power Systems in the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Ballard Power Systems by 422.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company’s stock valued at $38,000 after acquiring an additional 12,149 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

More Ballard Power Systems News

Here are the key news stories impacting Ballard Power Systems this week:

• Positive Sentiment: Solaris, a major European bus maker and long-standing partner, formally selected Ballard to supply its FCmove®?SC fuel cell engine for Solaris’s next?generation hydrogen bus platform — a material commercial win that supports Ballard’s revenue pipeline and market credibility. Read More.
• Positive Sentiment: Lake Street Capital upgraded BLDP to “buy” and raised its target to $5.00, signaling increasing buy?side conviction and providing support for near?term upside. Read More.
• Positive Sentiment: Technicals turned constructive as BLDP experienced a “golden cross” (50?day SMA crossing above the 200?day SMA), a common technical trigger that attracts momentum traders and can amplify short?term buying interest. Read More.
• Neutral Sentiment: Q1 results were mixed: Ballard beat EPS expectations (loss of $0.04 vs. estimate of $0.06) but missed revenue forecasts ($18.98M vs. ~$19.88M). The EPS beat reduces near?term downside risk, but the revenue shortfall and still negative margins temper the bullish case. Read More.
• Negative Sentiment: Underlying profitability remains weak (large negative net margin and negative ROE), and the revenue miss highlights that top?line growth is not yet consistent — factors that could limit multiple expansion until clearer commercial momentum is visible. Read More.
• Negative Sentiment: TD Cowen raised its price target to $4.25 but kept a “hold” rating; that PT implies downside relative to the intraday level and signals some analyst caution despite the upgrade. Mixed analyst signals can contribute to volatility. Read More.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.