Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $3.49

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average recommendation of “Reduce” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.49.

Several equities analysts have recently commented on the company. CIBC reduced their price objective on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. TD Securities upped their target price on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Truist Financial reaffirmed a “hold” rating and issued a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. HSBC cut their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group cut their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research note on Wednesday, May 8th.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP opened at $2.37 on Wednesday. Ballard Power Systems has a 12 month low of $2.14 and a 12 month high of $5.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.66 and a quick ratio of 10.88. The business has a 50-day moving average of $2.76 and a 200-day moving average of $3.00.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The business had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $17.55 million. During the same period in the previous year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. Headlands Technologies LLC bought a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $31,000. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems during the first quarter valued at approximately $28,000. FNY Investment Advisers LLC raised its holdings in shares of Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,000 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Ballard Power Systems during the first quarter valued at approximately $39,000. Finally, Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the first quarter valued at approximately $59,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

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.