National Bankshares Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $3.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective decreased by National Bankshares from $4.00 to $3.00 in a research report released on Tuesday morning, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the technology company’s stock.

Several other analysts also recently issued reports on BLDP. Wells Fargo & Company lowered their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set an underweight rating for the company in a research report on Tuesday. Jefferies Financial Group cut their price objective on shares of Ballard Power Systems from $3.25 to $2.00 and set a hold rating on the stock in a report on Tuesday. BMO Capital Markets lowered their target price on Ballard Power Systems from $2.25 to $1.70 and set an underperform rating for the company in a research note on Tuesday. Susquehanna cut their price target on Ballard Power Systems from $3.00 to $2.00 and set a neutral rating on the stock in a research note on Tuesday. Finally, TD Securities downgraded Ballard Power Systems from a hold rating to a sell rating and dropped their price objective for the stock from $2.50 to $1.50 in a report on Monday. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $3.11.

Ballard Power Systems Stock Up 1.1 %

NASDAQ BLDP opened at $1.85 on Tuesday. The company has a current ratio of 10.90, a quick ratio of 10.88 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $2.33 and its 200 day moving average price is $2.76. Ballard Power Systems has a twelve month low of $1.77 and a twelve month high of $4.48.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted ($0.10) EPS. Research analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ballard Power Systems by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 89,643 shares during the period. Virtu Financial LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter valued at $192,000. Jump Financial LLC bought a new position in shares of Ballard Power Systems during the fourth quarter worth about $1,086,000. CIBC Asset Management Inc increased its holdings in shares of Ballard Power Systems by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock worth $925,000 after acquiring an additional 7,060 shares during the period. Finally, Van ECK Associates Corp lifted its position in Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after purchasing an additional 353,098 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.