TD Securities Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.50

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by research analysts at TD Securities from $3.00 to $2.50 in a research report issued on Thursday, BayStreet.CA reports. TD Securities’ target price indicates a potential upside of 1.21% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Raymond James decreased their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Citigroup decreased their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler reduced their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group reduced their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and an average price target of $3.94.

Ballard Power Systems Stock Performance

Shares of BLDP traded down $0.07 during midday trading on Thursday, reaching $2.47. 2,203,516 shares of the stock were exchanged, compared to its average volume of 3,011,704. The company has a market capitalization of $739.25 million, a price-to-earnings ratio of -4.19 and a beta of 1.66. Ballard Power Systems has a twelve month low of $2.42 and a twelve month high of $5.68. The business’s 50-day moving average price is $2.96 and its 200 day moving average price is $3.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results 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 net margin of 172.63% and a negative return on equity of 14.06%. The company had revenue of $46.80 million during the quarter, compared to analyst estimates of $26.32 million. During the same quarter last year, the firm earned ($0.12) EPS. The business’s revenue was up 131.7% on a year-over-year basis. On average, sell-side analysts expect that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the fourth quarter worth about $31,000. FNY Investment Advisers LLC increased its stake in shares of Ballard Power Systems by 5,000.0% in the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after purchasing an additional 10,000 shares during the period. Arete Wealth Advisors LLC bought a new position in Ballard Power Systems during the 3rd quarter valued at $48,000. Exchange Traded Concepts LLC bought a new position in Ballard Power Systems during the 3rd quarter valued at $48,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in 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 valued at $51,000 after purchasing an additional 3,753 shares in the last quarter. 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.