Ballard Power Systems (NASDAQ:BLDP) Sets New 1-Year Low After Analyst Downgrade

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) reached a new 52-week low during mid-day trading on Thursday after TD Securities lowered their price target on the stock from $3.00 to $2.50. The stock traded as low as $2.42 and last traded at $2.46, with a volume of 1141793 shares trading hands. The stock had previously closed at $2.54.

BLDP has been the subject of several other reports. Citigroup lowered their price objective on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Piper Sandler decreased their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Raymond James decreased their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group decreased their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.94.

Institutional Trading of Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC raised its stake in shares of Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth approximately $48,000. Exchange Traded Concepts LLC purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth approximately $48,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Ballard Power Systems by 37.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after buying an additional 3,753 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Down 2.4 %

The firm has a market capitalization of $742.24 million, a PE ratio of -4.19 and a beta of 1.66. The business has a 50 day moving average price of $2.96 and a 200-day moving average price of $3.30. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $46.80 million for the quarter, compared to analyst estimates of $26.32 million. During the same quarter last year, the business earned ($0.12) EPS. Ballard Power Systems’s revenue for the quarter was up 131.7% compared to the same quarter last year. Analysts expect that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

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.