Ballard Power Systems (NASDAQ:BLDP) Hits New 1-Year Low at $2.22

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $2.22 and last traded at $2.23, with a volume of 990876 shares traded. The stock had previously closed at $2.25.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James dropped 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. TD Securities lifted their target price on Ballard Power Systems from $2.50 to $2.75 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Truist Financial reissued a “hold” rating and issued a $3.00 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Wednesday, May 8th. 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 report on Wednesday, May 8th. Finally, Wells Fargo & Company lowered their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a report on Thursday, May 9th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.49.

Ballard Power Systems Price Performance

The company has a current ratio of 11.66, a quick ratio of 10.88 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $2.80 and its 200 day moving average is $3.06. The company has a market cap of $664.65 million, a P/E ratio of -3.63 and a beta of 1.77.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data 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). The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems in the fourth quarter valued at $31,000. Endowment Wealth Management Inc. bought a new stake in shares of Ballard Power Systems during the first quarter valued at about $28,000. FNY Investment Advisers LLC increased its position in shares of 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 period. Tidal Investments LLC bought a new position in shares of Ballard Power Systems in the first quarter valued at approximately $39,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Ballard Power Systems during the 1st quarter valued at $59,000. 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.