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

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

Several other brokerages have also recently weighed in on BLDP. Citigroup lowered their price target on shares of Ballard Power Systems from $4.50 to $3.50 and set a neutral rating for the company in a research report on Tuesday, February 27th. Piper Sandler lowered their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating for the company in a research report on Wednesday, March 13th. Raymond James lowered their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a market perform rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group lowered their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a hold rating for the company in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems has an average rating of Hold and an average target price of $3.94.

Ballard Power Systems Stock Performance

Shares of NASDAQ:BLDP opened at $2.60 on Thursday. The company has a market capitalization of $778.15 million, a price-to-earnings ratio of -4.41 and a beta of 1.66. Ballard Power Systems has a 12 month low of $2.42 and a 12 month high of $5.68. The firm’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 issued its earnings results on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. Ballard Power Systems’s revenue was up 131.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) earnings per share. Research analysts predict that Ballard Power Systems will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems in the fourth quarter worth $31,000. FNY Investment Advisers LLC raised its holdings in shares of Ballard Power Systems by 5,000.0% in the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Ballard Power Systems in the third quarter worth $48,000. Exchange Traded Concepts LLC purchased a new position in shares of Ballard Power Systems in the third quarter worth $48,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Ballard Power Systems by 37.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after buying an additional 3,753 shares during 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 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.