Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $19.00

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) had its target price reduced by equities researchers at Lake Street Capital from $32.00 to $19.00 in a report issued on Tuesday, The Fly reports. Lake Street Capital’s price objective suggests a potential upside of 269.65% from the stock’s previous close.

A number of other equities analysts also recently commented on BLDP. National Bankshares cut their price objective on shares of Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. Truist Financial cut their price objective on shares of Ballard Power Systems from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, October 18th. TD Securities downgraded shares of Ballard Power Systems from a “speculative buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $6.50 in a report on Tuesday. National Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price target (down previously from $12.00) on shares of Ballard Power Systems in a report on Tuesday. Finally, Citigroup cut their price target on shares of Ballard Power Systems from $7.50 to $6.30 and set a “neutral” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.39.

Ballard Power Systems Trading Down 3.7 %

Shares of Ballard Power Systems stock opened at $5.14 on Tuesday. The company has a fifty day simple moving average of $6.33 and a 200-day simple moving average of $7.02. Ballard Power Systems has a 12-month low of $5.12 and a 12-month high of $18.63. The company has a current ratio of 15.16, a quick ratio of 14.36 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -8.29 and a beta of 1.67.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its earnings results on Monday, November 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $21.50 million during the quarter, compared to analysts’ expectations of $23.94 million. Ballard Power Systems had a negative net margin of 164.44% and a negative return on equity of 12.13%. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, equities analysts forecast that Ballard Power Systems will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds have recently modified their holdings of the company. Capasso Planning Partners LLC boosted its stake in shares of Ballard Power Systems by 71.0% during the 3rd quarter. Capasso Planning Partners LLC now owns 26,500 shares of the technology company’s stock worth $162,000 after purchasing an additional 11,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ballard Power Systems by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 576,761 shares of the technology company’s stock worth $3,551,000 after purchasing an additional 7,164 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Ballard Power Systems by 13.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 46,802 shares of the technology company’s stock worth $286,000 after purchasing an additional 5,441 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Ballard Power Systems by 1.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,374,506 shares of the technology company’s stock worth $20,778,000 after purchasing an additional 32,634 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Ballard Power Systems by 29.5% during the 3rd quarter. Quantbot Technologies LP now owns 238,332 shares of the technology company’s stock worth $1,458,000 after purchasing an additional 54,287 shares during the last quarter. 28.25% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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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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