Susquehanna Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $3.50

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price decreased by equities research analysts at Susquehanna from $4.25 to $3.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Susquehanna’s price target points to a potential upside of 8.36% from the stock’s current price.

Several other equities analysts have also recently issued reports on BLDP. National Bank Financial set a $4.75 target price on Ballard Power Systems and gave the company a “sector perform” rating in a research note on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. TD Cowen raised their price target on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. BMO Capital Markets lifted their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $5.00 in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $3.52.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $3.23 on Friday. Ballard Power Systems has a 1 year low of $1.70 and a 1 year high of $6.57. The stock has a market capitalization of $973.78 million, a PE ratio of -11.96 and a beta of 2.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The business’s 50-day moving average is $4.49 and its 200 day moving average is $3.21.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million during the quarter, compared to analyst estimates of $19.88 million. Sell-side analysts forecast that Ballard Power Systems will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Ballard Power Systems by 204.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock worth $10,145,000 after acquiring an additional 2,682,355 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Ballard Power Systems by 48.6% in the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock valued at $12,621,000 after purchasing an additional 1,625,542 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Ballard Power Systems by 117.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock valued at $4,327,000 after purchasing an additional 1,467,547 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Ballard Power Systems by 104.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,418,389 shares of the technology company’s stock worth $3,603,000 after purchasing an additional 726,188 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 (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.