Susquehanna Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $1.50

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price cut by Susquehanna from $2.00 to $1.50 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other analysts have also recently weighed in on BLDP. Truist Financial cut their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Raymond James cut their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group reduced their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems currently has an average rating of “Hold” and an average target price of $2.89.

Ballard Power Systems Price Performance

BLDP stock opened at $1.63 on Wednesday. The business’s 50-day moving average is $1.77 and its two-hundred day moving average is $2.36. 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 market capitalization of $488.04 million, a P/E ratio of -2.59 and a beta of 1.78. 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) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Ballard Power Systems’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares during the period. BNP Paribas Financial Markets lifted its holdings in Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after acquiring an additional 8,549 shares during the period. Endowment Wealth Management Inc. acquired a new stake in Ballard Power Systems in the first quarter valued at $28,000. Tidal Investments LLC purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth $39,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Ballard Power Systems by 149.7% during the 2nd 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 during the period. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.