Ballard Power Systems (NASDAQ:BLDP) PT Lowered to $4.00 at National Bankshares

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective reduced by research analysts at National Bankshares from $4.50 to $4.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the technology company’s stock. National Bankshares’ price objective suggests a potential upside of 38.89% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Raymond James decreased their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. TD Securities dropped their price target on Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday, April 25th. Jefferies Financial Group reduced their price objective on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research report on Wednesday. Piper Sandler cut their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research note on Wednesday, March 13th. Finally, CIBC lowered their price objective on shares of Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.82.

Ballard Power Systems Stock Up 1.4 %

Shares of NASDAQ:BLDP traded up $0.04 during midday trading on Wednesday, reaching $2.88. The company’s stock had a trading volume of 1,813,377 shares, compared to its average volume of 2,985,377. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $2.89 and a 200-day moving average of $3.24. The firm has a market capitalization of $861.96 million, a P/E ratio of -4.86 and a beta of 1.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $17.55 million. During the same quarter in the previous year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the fourth quarter valued at about $31,000. FNY Investment Advisers LLC boosted its stake in Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after buying an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Ballard Power Systems during the third quarter valued at approximately $48,000. Vanguard Personalized Indexing Management LLC grew its holdings in Ballard Power Systems by 37.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after buying an additional 3,753 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Ballard Power Systems in the 3rd quarter worth approximately $63,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.