Ballard Power Systems (NASDAQ:BLDP) PT Raised to $2.75 at TD Securities

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target hoisted by TD Securities from $2.50 to $2.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a hold rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. National Bankshares lowered their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a sector perform rating for the company in a report on Wednesday. CIBC dropped their target price on shares of Ballard Power Systems from $3.75 to $3.50 and set a neutral rating on the stock in a research report on Wednesday. Piper Sandler cut 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. Raymond James decreased their price target on Ballard Power Systems from $4.50 to $4.00 and set a market perform rating for the company in a research report on Wednesday, March 13th. Finally, Citigroup cut their price objective 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. Three research 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 has a consensus rating of Hold and a consensus target price of $3.74.

Ballard Power Systems Trading Down 7.8 %

BLDP stock opened at $2.83 on Wednesday. The company has a current ratio of 11.66, a quick ratio of 11.60 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $2.88 and a two-hundred day simple moving average of $3.23. Ballard Power Systems has a 52-week low of $2.42 and a 52-week high of $5.68.

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 analysts’ expectations of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Equities analysts forecast 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 added to or reduced their stakes in the business. Mackenzie Financial Corp raised 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Ballard Power Systems by 27.7% in the 3rd 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 buying an additional 849,311 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in Ballard Power Systems during the 3rd quarter valued at $48,000. CIBC Asset Management Inc raised its holdings in Ballard Power Systems by 2.8% during the 3rd quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock valued at $893,000 after acquiring an additional 6,494 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 19,245 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.