Ballard Power Systems (NASDAQ:BLDP) Stock Gets Price Target Trim from Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective trimmed by Susquehanna from $3.00 to $2.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the technology company’s stock.

Several other equities analysts also recently commented on the company. UBS Group cut their target price on Ballard Power Systems from $6.50 to $2.15 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target on the stock in a research report on Monday, August 3rd. Zacks Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. National Bank Financial set a $4.75 price objective on Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.30.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.57 on Wednesday. The firm has a market capitalization of $551.56 million, a PE ratio of -6.04 and a beta of 2.26. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12-month low of $1.55 and a 12-month high of $6.57. The firm has a 50-day moving average price of $2.21 and a 200 day moving average price of $3.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The company had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. Research analysts anticipate that Ballard Power Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently modified their holdings of the company. J. Derek Lewis & Associates Inc. boosted its holdings in shares of Ballard Power Systems by 10.9% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,000 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Ballard Power Systems during the 1st quarter valued at $26,000. Farringdon Capital Ltd. acquired a new stake in Ballard Power Systems during the 2nd quarter valued at $41,000. Finally, TD Waterhouse Canada Inc. raised its position in Ballard Power Systems by 56.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 29,937 shares of the technology company’s stock valued at $114,000 after purchasing an additional 10,850 shares during 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 is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.