Ballard Power Systems (NASDAQ:BLDP) Given New $3.50 Price Target at Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price decreased by Susquehanna from $4.25 to $3.50 in a report released on Friday morning, Marketbeat Ratings reports. Susquehanna currently has a neutral rating on the technology company’s stock.

BLDP has been the subject of a number of other research reports. TD Cowen raised their price target on Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Lake Street Capital upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. BMO Capital Markets upped their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price target on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. Finally, National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $3.52.

Ballard Power Systems Price Performance

Ballard Power Systems stock traded down $0.15 during mid-day trading on Friday, reaching $3.08. The company had a trading volume of 3,909,997 shares, compared to its average volume of 6,084,215. The stock’s 50-day simple moving average is $4.49 and its 200-day simple moving average is $3.21. Ballard Power Systems has a 1 year low of $1.70 and a 1 year high of $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The company has a market capitalization of $928.56 million, a P/E ratio of -11.41 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million for the quarter, compared to analysts’ expectations of $19.88 million. On average, equities analysts predict that Ballard Power Systems will post -0.16 EPS for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of Ballard Power Systems by 204.5% during the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock valued at $10,145,000 after acquiring an additional 2,682,355 shares during the last quarter. Invesco Ltd. boosted its position in shares of Ballard Power Systems by 48.6% in the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after acquiring an additional 1,625,542 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Ballard Power Systems by 117.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock valued at $4,327,000 after purchasing an additional 1,467,547 shares during the period. Goldman Sachs Group Inc. grew its holdings in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Ballard Power Systems by 104.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,418,389 shares of the technology company’s stock worth $3,603,000 after purchasing an additional 726,188 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.