UBS Group Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $1.40

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price cut by stock analysts at UBS Group from $2.00 to $1.40 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s price target suggests a potential upside of 0.36% from the company’s current price.

A number of other research firms also recently issued reports on BLDP. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a research report on Thursday, March 13th. National Bankshares reduced their target price on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Citigroup reaffirmed a “sell” rating and issued a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. HSBC reduced their price objective on Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research note on Friday, March 14th. Finally, Susquehanna lowered their target price on Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.09.

Ballard Power Systems Trading Up 3.3%

Shares of BLDP stock traded up $0.05 during trading hours on Monday, hitting $1.40. 9,515,875 shares of the company’s stock traded hands, compared to its average volume of 9,165,999. The stock’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $1.40. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $3.34. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The stock has a market cap of $418.27 million, a PE ratio of -1.27 and a beta of 1.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The business had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. On average, sell-side analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC purchased a new position in Ballard Power Systems during the 4th quarter valued at about $2,508,000. Millennium Management LLC grew its stake in shares of Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after buying an additional 1,177,718 shares during the last quarter. Two Sigma Investments LP increased its position in Ballard Power Systems by 58.4% during the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after buying an additional 661,413 shares in the last quarter. Van ECK Associates Corp raised its stake in Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after buying an additional 644,861 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock worth $1,619,000 after acquiring an additional 498,600 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.