Ballard Power Systems (NASDAQ:BLDP) Given New $1.50 Price Target at Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective trimmed by Susquehanna from $2.00 to $1.50 in a report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

BLDP has been the topic of a number of other research reports. National Bankshares dropped their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Raymond James lowered their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Truist Financial cut their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their target price for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and an average price target of $2.89.

Ballard Power Systems Stock Performance

BLDP opened at $1.63 on Wednesday. The stock has a market cap of $488.04 million, a P/E ratio of -2.59 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. The firm has a fifty day moving average price of $1.77 and a 200 day moving average price of $2.36. Ballard Power Systems has a 1 year low of $1.60 and a 1 year high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. Equities research analysts anticipate that Ballard Power Systems will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently made changes to their positions in the stock. Endowment Wealth Management Inc. acquired a new position in Ballard Power Systems during the first quarter worth $28,000. Tidal Investments LLC purchased a new position in Ballard Power Systems during the 1st quarter valued at about $39,000. Westwood Holdings Group Inc. acquired a new position in Ballard Power Systems in the 1st quarter valued at about $59,000. Scientech Research LLC purchased a new stake in Ballard Power Systems during the second quarter worth about $52,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 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.