Ballard Power Systems (NASDAQ:BLDP) Price Target Lowered to $2.50 at TD Securities

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target reduced by TD Securities from $3.00 to $2.50 in a report issued on Thursday morning, BayStreet.CA reports.

A number of other research analysts have also recently weighed in on BLDP. Piper Sandler dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating for the company in a research note on Wednesday, March 13th. Citigroup lowered their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a neutral rating for the company in a research note on Tuesday, February 27th. Raymond James lowered their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a market perform rating for the company in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group lowered their price objective on shares of Ballard Power Systems from $4.00 to $3.50 and set a hold rating for the company in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Ballard Power Systems presently has an average rating of Hold and an average target price of $3.94.

Ballard Power Systems Price Performance

BLDP stock opened at $2.47 on Thursday. The firm has a 50 day moving average of $2.95 and a 200-day moving average of $3.29. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $46.80 million for the quarter, compared to analysts’ expectations of $26.32 million. During the same period last year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was up 131.7% on a year-over-year basis. As a group, research analysts expect that Ballard Power Systems will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Ballard Power Systems in the 4th quarter worth $31,000. FNY Investment Advisers LLC lifted its holdings in Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Ballard Power Systems in the 3rd quarter worth $48,000. Exchange Traded Concepts LLC acquired a new position in Ballard Power Systems in the 3rd quarter worth $48,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after buying an additional 3,753 shares in 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.