National Bankshares Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $4.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target decreased by National Bankshares from $4.50 to $4.00 in a report published on Wednesday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. TD Securities decreased their price target on Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday, April 25th. Jefferies Financial Group decreased their target price on Ballard Power Systems from $3.50 to $3.25 and set a hold rating for the company in a research report on Wednesday. Raymond James cut their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a market perform rating on the stock in a report on Wednesday, March 13th. Citigroup decreased their price objective on shares of Ballard Power Systems from $4.50 to $3.50 and set a neutral rating for the company in a report on Tuesday, February 27th. Finally, Piper Sandler dropped their target price on shares of 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. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $3.77.

Ballard Power Systems Trading Up 1.4 %

Shares of BLDP opened at $2.88 on Wednesday. The company’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $3.24. The company has a market cap of $861.96 million, a P/E ratio of -4.88 and a beta of 1.65. 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 has a twelve month low of $2.42 and a twelve month high of $5.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $14,353,000 after purchasing an additional 849,311 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Ballard Power Systems by 19.8% during the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after buying an additional 353,098 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of 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 valued at $7,732,000 after buying an additional 321,624 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter worth $1,086,000. Finally, Rafferty Asset Management LLC boosted its holdings in Ballard Power Systems by 49.5% in the fourth quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after acquiring an additional 236,449 shares in the last quarter. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

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.