Truist Financial Reaffirms Hold Rating for Ballard Power Systems (NASDAQ:BLDP)

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “hold” rating reiterated by equities research analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $3.00 price objective on the technology company’s stock, down from their previous price objective of $3.50. Truist Financial’s price target would suggest a potential upside of 7.14% from the company’s previous close.

Several other analysts have also recently commented on the stock. Raymond James decreased their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Citigroup cut their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. TD Securities decreased their price objective on Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Jefferies Financial Group dropped their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Finally, Piper Sandler lowered their price objective on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and a consensus target price of $3.90.

Ballard Power Systems Stock Down 1.4 %

NASDAQ:BLDP opened at $2.80 on Wednesday. Ballard Power Systems has a 1-year low of $2.42 and a 1-year high of $5.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60. The firm has a market cap of $838.01 million, a PE ratio of -4.81 and a beta of 1.65. The company has a 50-day moving average of $2.89 and a 200 day moving average of $3.24.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. As a group, research analysts anticipate that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Several large investors have recently bought and sold shares of BLDP. Mackenzie Financial Corp grew its position in shares of Ballard Power Systems by 2.6% in the third quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock valued at $393,000 after purchasing an additional 2,974 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ballard Power Systems by 27.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock worth $14,353,000 after acquiring an additional 849,311 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of Ballard Power Systems during the 3rd quarter valued at about $48,000. CIBC Asset Management Inc increased its position in Ballard Power Systems by 2.8% during the third quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock worth $893,000 after purchasing an additional 6,494 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Ballard Power Systems by 5.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 404,305 shares of the technology company’s stock worth $1,484,000 after purchasing an additional 19,245 shares during the period. Hedge funds and other 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.