Susquehanna Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $3.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price decreased by investment analysts at Susquehanna from $3.50 to $3.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Susquehanna’s target price points to a potential upside of 15.16% from the company’s previous close.

Several other equities research analysts have also weighed in on BLDP. National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the company a “sector perform” rating in a research note on Wednesday, June 24th. BMO Capital Markets boosted their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. ATB Cormark Capital Markets increased their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Hold” and a consensus price target of $3.50.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $2.60 on Monday. The firm has a market cap of $785.43 million, a P/E ratio of -10.15 and a beta of 2.29. The firm’s 50-day simple moving average is $3.67 and its 200-day simple moving average is $3.23. Ballard Power Systems has a twelve month low of $1.70 and a twelve month high of $6.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. As a group, research analysts expect that Ballard Power Systems will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Ballard Power Systems by 29.1% in the first quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock valued at $761,000 after acquiring an additional 156,014 shares during the last quarter. Amundi grew its position in Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after acquiring an additional 9,454 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Ballard Power Systems by 20.3% during the 1st 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 in the last quarter. Jane Street Group LLC increased its holdings in Ballard Power Systems by 56.2% during the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 534,834 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Ballard Power Systems by 604.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock valued at $757,000 after purchasing an additional 408,641 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

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.