Susquehanna Trims Ballard Power Systems (NASDAQ:BLDP) Target Price to $2.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target dropped by equities research analysts at Susquehanna from $3.00 to $2.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Susquehanna’s price target would indicate a potential upside of 9.29% from the stock’s current price.

A number of other equities research analysts have also recently commented on BLDP. CIBC decreased their price objective on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Truist Financial reaffirmed a “hold” rating and issued a $3.00 price target (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. Jefferies Financial Group reduced their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. National Bankshares lowered their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 8th. Finally, HSBC reduced their price target on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.11.

Ballard Power Systems Price Performance

Ballard Power Systems stock opened at $1.83 on Tuesday. The stock has a market cap of $547.89 million, a price-to-earnings ratio of -2.95 and a beta of 1.77. Ballard Power Systems has a 12-month low of $1.77 and a 12-month high of $4.63. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $2.35 and its 200 day simple moving average is $2.77.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $19.36 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Ballard Power Systems’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of BLDP. Headlands Technologies LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter worth about $31,000. Endowment Wealth Management Inc. acquired a new position in Ballard Power Systems during the 1st quarter worth approximately $28,000. Tidal Investments LLC acquired a new position in Ballard Power Systems during the 1st quarter worth approximately $39,000. Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $59,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.