TD Securities Increases Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.75

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price raised by stock analysts at TD Securities from $2.50 to $2.75 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a “hold” rating on the technology company’s stock. TD Securities’ price target indicates a potential downside of 4.51% from the stock’s previous close.

Several other research analysts have also commented on BLDP. Piper Sandler dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research note on Wednesday, March 13th. Citigroup cut their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Raymond James reduced their price objective 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. Truist Financial restated a “hold” rating and set a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. Finally, CIBC reduced their price target on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.82.

Ballard Power Systems Price Performance

BLDP stock traded up $0.04 during mid-day trading on Wednesday, hitting $2.88. The company had a trading volume of 1,813,377 shares, compared to its average volume of 2,985,377. The company has a 50-day moving average price of $2.89 and a 200 day moving average price of $3.24. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68. The company has a market capitalization of $861.96 million, a price-to-earnings ratio of -4.86 and a beta of 1.65. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released 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 return on equity of 14.06% and a negative net margin of 172.63%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, research analysts anticipate 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 modified their holdings of BLDP. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the 4th quarter worth about $31,000. FNY Investment Advisers LLC grew its holdings in 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 worth $37,000 after acquiring an additional 10,000 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Ballard Power Systems during the third quarter worth about $48,000. Vanguard Personalized Indexing Management LLC raised its position in Ballard Power Systems by 37.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Ballard Power Systems in the third quarter valued at approximately $63,000. 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.