Ballard Power Systems (NASDAQ:BLDP) Price Target Increased to $2.75 by Analysts at TD Securities

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

A number of other brokerages have also issued reports on BLDP. Truist Financial reissued a hold rating and issued a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a report on Wednesday. Raymond James lowered their price target on 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. National Bankshares cut their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a sector perform rating on the stock in a research note on Wednesday. Piper Sandler decreased their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their price target on shares of Ballard Power Systems from $3.50 to $3.25 and set a hold rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $3.77.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $2.88 on Wednesday. The firm has a fifty day moving average of $2.89 and a 200-day moving average of $3.24. The company has a market cap of $861.96 million, a price-to-earnings ratio of -4.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. Ballard Power Systems has a 1 year low of $2.42 and a 1 year high of $5.68.

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

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $14,353,000 after acquiring an additional 849,311 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Ballard Power Systems in the 3rd quarter worth about $48,000. CIBC Asset Management Inc increased its holdings in shares of Ballard Power Systems by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock valued at $893,000 after purchasing 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% in 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 purchasing an additional 19,245 shares in the last quarter. Institutional investors and hedge funds 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.