Ballard Power Systems (NASDAQ:BLDP) PT Raised to $2.75

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective boosted by TD Securities from $2.50 to $2.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. TD Securities currently has a hold rating on the technology company’s stock.

Several other research firms have also recently weighed in on BLDP. Truist Financial reissued a hold rating and issued a $3.00 target price (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday. National Bankshares cut their price target 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. Citigroup lowered their price objective on shares of Ballard Power Systems from $4.50 to $3.50 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Raymond James cut 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 reduced 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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $3.77.

Ballard Power Systems Trading Up 1.4 %

Shares of NASDAQ:BLDP opened at $2.88 on Wednesday. The company’s 50-day moving average price is $2.89 and its two-hundred day moving average price is $3.24. Ballard Power Systems has a one year low of $2.42 and a one year high of $5.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60. The stock has a market capitalization of $861.96 million, a PE ratio of -4.88 and a beta of 1.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results 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). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems during the first quarter worth approximately $28,000. BNP Paribas Financial Markets raised its holdings in Ballard Power Systems by 4.1% in the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after acquiring an additional 8,549 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Ballard Power Systems by 19.8% during the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after acquiring an additional 353,098 shares during the period. Integrated Advisors Network LLC grew its holdings in shares of Ballard Power Systems by 163.2% during the 4th quarter. Integrated Advisors Network LLC now owns 31,712 shares of the technology company’s stock worth $117,000 after purchasing an additional 19,662 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Ballard Power Systems in the fourth quarter worth $192,000. 28.02% of the stock is currently 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.