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

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

Other analysts have also issued research reports about the company. Jefferies Financial Group decreased their price objective on Ballard Power Systems from $4.00 to $3.50 and set a hold rating on the stock in a report on Tuesday, January 30th. Citigroup decreased their price target on Ballard Power Systems from $4.50 to $3.50 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Piper Sandler decreased their price target 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. Finally, Raymond James decreased their price target on Ballard Power Systems from $4.50 to $4.00 and set a market perform rating on the stock in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $3.94.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $2.60 on Thursday. Ballard Power Systems has a 1-year low of $2.42 and a 1-year high of $5.68. The firm has a market capitalization of $778.15 million, a PE ratio of -4.41 and a beta of 1.66. The business’s 50 day moving average is $2.93 and its 200-day moving average is $3.28. 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 announced its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $26.32 million. During the same period in the previous year, the business posted ($0.12) EPS. Ballard Power Systems’s revenue for the quarter was up 131.7% compared to the same quarter last year. Sell-side analysts predict that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BLDP. Exchange Traded Concepts LLC bought a new stake in shares of Ballard Power Systems during the third quarter worth $48,000. Mackenzie Financial Corp raised its position in shares of Ballard Power Systems by 2.6% during the third quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock worth $393,000 after acquiring an additional 2,974 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ballard Power Systems by 27.7% during the third 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 during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Ballard Power Systems during the third quarter worth $48,000. Finally, CIBC Asset Management Inc raised its position in shares of Ballard Power Systems by 2.8% during the third quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock worth $893,000 after acquiring an additional 6,494 shares during the last quarter. 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.