Ballard Power Systems (NASDAQ:BLDP) Given a $4.75 Price Target at National Bank Financial

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been given a $4.75 price objective by stock analysts at National Bank Financial in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the technology company’s stock. National Bank Financial’s price target indicates a potential upside of 28.21% from the company’s previous close.

Several other brokerages have also recently issued reports on BLDP. Susquehanna raised their price objective on Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Wells Fargo & Company boosted their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. Raymond James Financial lifted their price target on Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a research report on Wednesday, May 6th. Finally, ATB Cormark Capital Markets raised their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $3.59.

Ballard Power Systems Stock Down 11.2%

BLDP stock traded down $0.47 during trading on Wednesday, hitting $3.71. 6,906,861 shares of the company’s stock traded hands, compared to its average volume of 5,834,838. The firm has a market capitalization of $1.12 billion, a P/E ratio of -13.76 and a beta of 2.19. Ballard Power Systems has a 1 year low of $1.39 and a 1 year high of $6.57. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $4.39 and a two-hundred day simple moving average of $3.14.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million for the quarter, compared to the consensus estimate of $19.88 million. Sell-side analysts anticipate that Ballard Power Systems will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. acquired a new position in Ballard Power Systems in the first quarter valued at about $59,000. J. Derek Lewis & Associates Inc. grew its stake in shares of Ballard Power Systems by 10.9% in the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock valued at $123,000 after buying an additional 5,000 shares in the last quarter. Bank of America Corp DE boosted its holdings in Ballard Power Systems by 72.5% during the 1st quarter. Bank of America Corp DE now owns 575,907 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 242,132 shares during the period. Amundi lifted its position in shares of Ballard Power Systems by 23.8% during the first quarter. Amundi now owns 256,544 shares of the technology company’s stock worth $621,000 after purchasing an additional 49,248 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Ballard Power Systems by 94.0% in the first quarter. Royal Bank of Canada now owns 637,068 shares of the technology company’s stock valued at $1,542,000 after purchasing an additional 308,742 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.