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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective cut by investment analysts at National Bankshares from $4.50 to $4.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. National Bankshares’ price objective would suggest a potential upside of 30.29% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup decreased their target price on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Truist Financial restated a “hold” rating and set a $3.00 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Wednesday. TD Securities cut their target price on shares of Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday, April 25th. Raymond James lowered their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.74.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $3.07 on Wednesday. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $2.89 and its two-hundred day moving average is $3.24. The firm has a market capitalization of $918.82 million, a P/E ratio of -5.20 and a beta of 1.65. Ballard Power Systems has a 52 week low of $2.42 and a 52 week high of $5.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) EPS. Analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Mackenzie Financial Corp boosted its stake in shares of Ballard Power Systems by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock valued at $393,000 after purchasing an additional 2,974 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ballard Power Systems by 27.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after purchasing an additional 849,311 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Ballard Power Systems in the 3rd quarter worth $48,000. CIBC Asset Management Inc grew its stake in shares of Ballard Power Systems by 2.8% during the third quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock worth $893,000 after purchasing an additional 6,494 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Ballard Power Systems by 5.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 404,305 shares of the technology company’s stock valued at $1,484,000 after purchasing an additional 19,245 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.