Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $3.30

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target increased by Susquehanna from $2.00 to $3.30 in a research report sent to investors on Monday morning, Marketbeat.com reports. Susquehanna currently has a neutral rating on the technology company’s stock.

A number of other analysts also recently weighed in on BLDP. HSBC set a $3.40 price target on Ballard Power Systems in a research note on Thursday, October 9th. Roth Capital lifted their price target on Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a research note on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Ballard Power Systems from $1.00 to $1.50 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Finally, Lake Street Capital downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Ten research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $1.81.

Ballard Power Systems Trading Down 5.5%

Shares of BLDP stock opened at $3.76 on Monday. The business’s 50 day moving average is $2.46 and its two-hundred day moving average is $1.82. Ballard Power Systems has a twelve month low of $1.00 and a twelve month high of $4.10. The company has a market capitalization of $1.13 billion, a P/E ratio of -3.80 and a beta of 1.80. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The company had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Equities analysts forecast that Ballard Power Systems will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors have recently made changes to their positions in the stock. Marex Group plc acquired a new position in shares of Ballard Power Systems in the second quarter worth $243,000. Headlands Technologies LLC increased its stake in Ballard Power Systems by 364.7% in the second quarter. Headlands Technologies LLC now owns 71,027 shares of the technology company’s stock valued at $113,000 after purchasing an additional 55,742 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake 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 last quarter. Engineers Gate Manager LP acquired a new position in Ballard Power Systems in the second quarter valued at $83,000. Finally, Ardsley Advisory Partners LP acquired a new position in Ballard Power Systems in the second quarter valued at $80,000. 28.02% of the stock is owned by institutional investors and hedge funds.

About Ballard Power Systems

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.