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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price trimmed by Susquehanna from $3.50 to $3.00 in a report released on Monday, Marketbeat reports. The firm currently has a neutral rating on the technology company’s stock.

Several other analysts have also issued reports on the stock. KeyCorp restated a “sector weight” rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. BMO Capital Markets increased their target price on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.00 to $5.00 in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.50.

Ballard Power Systems Price Performance

BLDP stock opened at $2.62 on Monday. Ballard Power Systems has a 52-week low of $1.74 and a 52-week high of $6.57. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The stock has a market cap of $789.95 million, a price-to-earnings ratio of -10.08 and a beta of 2.29. The business has a fifty day moving average of $3.45 and a two-hundred day moving average of $3.23.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) 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 net margin of 72.78% and a negative return on equity of 13.23%. As a group, research analysts anticipate that Ballard Power Systems will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds have recently bought and sold shares of BLDP. J. Derek Lewis & Associates Inc. raised its stake in shares of Ballard Power Systems by 10.9% in the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock valued at $123,000 after acquiring an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the period. Amundi grew its stake 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 purchasing an additional 9,454 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Ballard Power Systems by 27.7% during the 4th quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock worth $118,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Swiss Life Asset Management Ltd purchased a new stake in Ballard Power Systems during the 4th quarter worth about $26,000. Institutional investors and hedge funds 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.