Ballard Power Systems (NASDAQ:BLDP) Rating Reiterated by Truist Financial

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “hold” rating restated by equities research analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $3.00 price target on the technology company’s stock, down from their prior price target of $3.50. Truist Financial’s target price would indicate a potential downside of 2.28% from the company’s current price.

BLDP has been the subject of several other reports. Raymond James dropped their target price 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. Piper Sandler lowered 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. Jefferies Financial Group cut their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Citigroup reduced their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, TD Securities lowered their target price on shares of Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.74.

Ballard Power Systems Price Performance

BLDP stock opened at $3.07 on Wednesday. Ballard Power Systems has a 1 year low of $2.42 and a 1 year high of $5.68. The stock has a market capitalization of $918.82 million, a PE ratio of -5.20 and a beta of 1.65. The company’s 50-day moving average is $2.89 and its 200-day moving average is $3.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The business had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $17.55 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of Ballard Power Systems by 2.6% during the third quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock worth $393,000 after buying an additional 2,974 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after purchasing an additional 3,753 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Ballard Power Systems by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after purchasing an additional 4,677 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Ballard Power Systems by 2.8% in the third quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock valued at $893,000 after purchasing an additional 6,494 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Ballard Power Systems during the fourth quarter worth approximately $31,000. 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.