Raymond James Trims Ballard Power Systems (NASDAQ:BLDP) Target Price to $9.00

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) had its price target dropped by equities research analysts at Raymond James from $14.00 to $9.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target suggests a potential upside of 32.74% from the company’s current price.

A number of other research firms have also recently weighed in on BLDP. Susquehanna increased their price target on Ballard Power Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, March 10th. National Bankshares decreased their target price on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citigroup decreased their target price on Ballard Power Systems from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 16th. National Bank Financial decreased their target price on Ballard Power Systems from $20.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 15th. Finally, Truist Financial decreased their target price on Ballard Power Systems from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Monday, January 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.47.

Shares of NASDAQ BLDP traded down $0.14 during mid-day trading on Tuesday, reaching $6.78. 330,148 shares of the company’s stock were exchanged, compared to its average volume of 4,749,618. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -17.87 and a beta of 1.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.16 and a current ratio of 14.78. Ballard Power Systems has a 52-week low of $6.85 and a 52-week high of $19.66. The company’s 50-day moving average is $10.43 and its 200-day moving average is $12.06.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last released its quarterly earnings results on Friday, March 11th. The technology company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The business had revenue of $36.71 million for the quarter, compared to analysts’ expectations of $28.84 million. Ballard Power Systems had a negative return on equity of 8.33% and a negative net margin of 109.29%. As a group, equities analysts predict that Ballard Power Systems will post -0.46 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Salem Investment Counselors Inc. raised its position in Ballard Power Systems by 10,023.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,037 shares of the technology company’s stock valued at $38,000 after purchasing an additional 3,007 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Ballard Power Systems by 81.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,791 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,700 shares in the last quarter. Millburn Ridgefield Corp raised its position in Ballard Power Systems by 238.0% in the 1st quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,116 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Ballard Power Systems in the 3rd quarter valued at about $53,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of Ballard Power Systems during the 4th quarter worth about $58,000. 35.47% of the stock is currently owned by institutional investors.

Ballard Power Systems Company Profile (Get Rating)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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