TD Securities Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.50

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price cut by TD Securities from $3.00 to $2.50 in a research report report published on Thursday, BayStreet.CA reports.

BLDP has been the topic of several other reports. Piper Sandler decreased their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating on the stock in a research report on Wednesday, March 13th. Raymond James decreased 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 research report on Wednesday, March 13th. Citigroup decreased their price target on shares of 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. Finally, Jefferies Financial Group decreased their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a hold rating on the stock in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $3.94.

Ballard Power Systems Trading Up 5.3 %

Shares of NASDAQ:BLDP opened at $2.60 on Thursday. The company has a 50 day moving average of $2.93 and a 200-day moving average of $3.28. The firm has a market cap of $778.15 million, a P/E ratio of -4.41 and a beta of 1.66. Ballard Power Systems has a twelve month low of $2.42 and a twelve month high of $5.68. 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 (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). 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 $46.80 million during the quarter, compared to analyst estimates of $26.32 million. During the same period in the prior year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 131.7% on a year-over-year basis. As a group, analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently made changes to their positions in the business. Swiss National Bank raised its position in shares of Ballard Power Systems by 1.9% in the third quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock valued at $1,967,000 after purchasing an additional 10,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ballard Power Systems by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 89,643 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 148,321 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Ballard Power Systems by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after acquiring an additional 4,677 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Ballard Power Systems in the fourth quarter valued at about $373,000. Institutional investors own 28.02% of the company’s stock.

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.