Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $1.10 at BMO Capital Markets

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price hoisted by BMO Capital Markets from $1.00 to $1.10 in a report issued on Tuesday,Benzinga reports. BMO Capital Markets currently has an underperform rating on the technology company’s stock.

Several other research analysts have also commented on the stock. Susquehanna raised their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a “neutral” rating in a report on Monday, July 21st. National Bank Financial raised shares of Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup reaffirmed a “sell” rating and issued a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Finally, UBS Group lowered their price objective on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a research report on Monday, May 12th. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.15.

Ballard Power Systems Trading Down 3.9%

NASDAQ BLDP opened at $1.73 on Tuesday. Ballard Power Systems has a one year low of $1.00 and a one year high of $2.28. The company’s 50 day moving average price is $1.74 and its 200 day moving average price is $1.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00. The firm has a market capitalization of $518.78 million, a price-to-earnings ratio of -1.75 and a beta of 1.76.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.16%. The firm had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. On average, sell-side analysts predict that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Ballard Power Systems during the fourth quarter worth $27,000. SBI Securities Co. Ltd. lifted its stake in Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock worth $37,000 after purchasing an additional 13,094 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after purchasing an additional 5,482 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Ballard Power Systems during the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. lifted its stake in Ballard Power Systems by 44.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock worth $82,000 after purchasing an additional 15,160 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 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.