National Bankshares Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $4.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective cut by investment analysts at National Bankshares from $4.50 to $4.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the technology company’s stock. National Bankshares’ price target points to a potential upside of 38.89% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. TD Securities reduced their target price on shares of Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Truist Financial reiterated a “hold” rating and issued a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday. Jefferies Financial Group lowered their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research note on Wednesday. Raymond James reduced their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. Finally, CIBC lowered their price objective on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.82.

Ballard Power Systems Trading Up 1.4 %

NASDAQ:BLDP traded up $0.04 during trading hours on Wednesday, reaching $2.88. 1,813,377 shares of the stock were exchanged, compared to its average volume of 2,985,377. Ballard Power Systems has a twelve month low of $2.42 and a twelve month high of $5.68. The business has a 50-day moving average of $2.89 and a two-hundred day moving average of $3.24. The company has a market capitalization of $861.96 million, a price-to-earnings ratio of -4.86 and a beta of 1.65. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $17.55 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. Ballard Power Systems’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, equities analysts predict 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 modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the 4th quarter worth $31,000. FNY Investment Advisers LLC boosted its stake in shares of Ballard Power Systems by 5,000.0% during the fourth 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 during the period. Arete Wealth Advisors LLC purchased a new position in shares of Ballard Power Systems during the third quarter worth about $48,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ballard Power Systems by 37.2% during the third 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 during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Ballard Power Systems in the 3rd quarter valued at about $63,000. 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.