Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $2.00 at Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lifted by Susquehanna from $1.30 to $2.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the company. National Bank Financial raised Ballard Power Systems to a “hold” rating in a research note on Sunday, June 8th. Citigroup reiterated a “sell” rating and issued a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. UBS Group dropped their target price on Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised Ballard Power Systems to a “sell” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.14.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.94 on Monday. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12-month low of $1.00 and a 12-month high of $2.38. The stock has a 50-day moving average price of $1.56 and a 200 day moving average price of $1.41. The stock has a market capitalization of $581.71 million, a P/E ratio of -1.90 and a beta of 1.71.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. The business had revenue of $14.76 million during the quarter, compared to analysts’ expectations of $16.82 million. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. Equities research analysts forecast that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Ballard Power Systems during the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ballard Power Systems by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock worth $1,695,000 after purchasing an additional 425,374 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Ballard Power Systems by 14.7% during the fourth quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock worth $120,000 after purchasing an additional 9,287 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the fourth quarter worth about $52,000. Finally, Aristides Capital LLC purchased a new position in shares of Ballard Power Systems during the fourth quarter worth about $217,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

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.