Ballard Power Systems (NASDAQ:BLDP) PT Lowered to $3.80 at HSBC

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price lowered by investment analysts at HSBC from $4.10 to $3.80 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. HSBC’s price target suggests a potential upside of 33.33% from the company’s previous close.

Several other research firms have also recently commented on BLDP. National Bankshares lowered their target price on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research note on Wednesday. TD Securities boosted their price objective on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a report on Wednesday. Raymond James reduced their target price on shares of 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. CIBC dropped their price target on shares of Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.77.

Ballard Power Systems Price Performance

NASDAQ BLDP traded up $0.01 during trading on Wednesday, reaching $2.85. 1,929,457 shares of the company traded hands, compared to its average volume of 2,986,123. Ballard Power Systems has a 1-year low of $2.42 and a 1-year high of $5.68. The company has a market cap of $852.98 million, a price-to-earnings ratio of -4.88 and a beta of 1.65. The stock’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $3.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25.

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

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Ballard Power Systems by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock valued at $33,476,000 after buying an additional 148,321 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 third 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. Van ECK Associates Corp lifted its position in Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after acquiring an additional 353,098 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Ballard Power Systems by 18.2% in the 4th quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company’s stock worth $7,732,000 after purchasing an additional 321,624 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ballard Power Systems by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after purchasing an additional 89,643 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.