Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $3.80 by Analysts at HSBC

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price decreased by HSBC from $4.10 to $3.80 in a report issued on Wednesday morning, Benzinga reports. HSBC currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reduced their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating for the company in a research report on Wednesday, March 13th. Raymond James reduced 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 report on Wednesday, March 13th. Truist Financial reissued a hold rating and set a $3.00 price objective (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. CIBC decreased their target price on Ballard Power Systems from $3.75 to $3.50 and set a neutral rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group cut their price target on Ballard Power Systems from $3.50 to $3.25 and set a hold rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $3.77.

Ballard Power Systems Stock Up 1.4 %

Shares of Ballard Power Systems stock opened at $2.88 on Wednesday. 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 has a twelve month low of $2.42 and a twelve month high of $5.68. The company has a market cap of $861.96 million, a price-to-earnings ratio of -4.88 and a beta of 1.65. The company’s 50 day moving average is $2.89 and its 200 day moving average is $3.24.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.06% and a negative net margin of 172.63%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) earnings per share. Research analysts anticipate that Ballard Power Systems will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Endowment Wealth Management Inc. bought a new stake in Ballard Power Systems in the 1st quarter valued at $28,000. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems in the fourth quarter worth about $31,000. FNY Investment Advisers LLC lifted its position in shares of Ballard Power Systems by 5,000.0% in 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 in the last quarter. Arete Wealth Advisors LLC bought a new position in Ballard Power Systems during the third quarter valued at approximately $48,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Ballard Power Systems by 37.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after buying an additional 3,753 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

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.