Susquehanna Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target dropped by research analysts at Susquehanna from $3.00 to $2.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Susquehanna’s price target points to a potential upside of 12.99% from the stock’s previous close.

A number of other analysts have also recently issued reports on BLDP. HSBC raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective for the company in a research report on Monday, August 3rd. UBS Group lowered their target price on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Friday, July 17th. Finally, Zacks Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Reduce” and an average price target of $3.30.

Ballard Power Systems Trading Down 3.3%

Shares of NASDAQ:BLDP opened at $1.77 on Wednesday. The firm has a fifty day moving average of $2.26 and a two-hundred day moving average of $3.21. Ballard Power Systems has a 12-month low of $1.76 and a 12-month high of $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The company had revenue of $20.34 million for the quarter, compared to analysts’ expectations of $25.24 million. Equities analysts predict that Ballard Power Systems will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. J. Derek Lewis & Associates Inc. increased its position in shares of Ballard Power Systems by 10.9% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after purchasing an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the last quarter. Ground Swell Capital LLC bought a new position in Ballard Power Systems during the 1st quarter valued at about $26,000. Farringdon Capital Ltd. acquired a new position in Ballard Power Systems in the second quarter valued at about $41,000. Finally, TD Waterhouse Canada Inc. boosted its position in Ballard Power Systems by 56.8% in the second quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock valued at $114,000 after buying an additional 10,850 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.