Ballard Power Systems (NASDAQ:BLDP – Free Report) (TSE:BLD) had its price target decreased by Truist Financial from $3.00 to $2.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the technology company’s stock.
BLDP has been the subject of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of Ballard Power Systems from $3.50 to $3.00 and set an underweight rating for the company in a research note on Thursday, May 9th. BMO Capital Markets dropped their price target on shares of Ballard Power Systems from $2.25 to $1.70 and set an underperform rating for the company in a research report on Tuesday. CIBC decreased their price target on shares of Ballard Power Systems from $3.75 to $3.50 and set a neutral rating on the stock in a report on Wednesday, May 8th. National Bankshares dropped their price objective on Ballard Power Systems from $4.50 to $4.00 and set a sector perform rating for the company in a report on Wednesday, May 8th. Finally, Jefferies Financial Group cut their target price on Ballard Power Systems from $3.25 to $2.00 and set a hold rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of Hold and a consensus price target of $3.18.
Get Our Latest Analysis on Ballard Power Systems
Ballard Power Systems Stock Up 7.1 %
BLDP opened at $1.97 on Tuesday. The firm has a market cap of $589.84 million, a P/E ratio of -3.18 and a beta of 1.77. The business’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $2.77. Ballard Power Systems has a 52 week low of $1.77 and a 52 week high of $4.70. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03.
Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company 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 15.37% and a negative net margin of 177.82%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, equities research analysts anticipate that Ballard Power Systems will post -0.51 EPS for the current fiscal year.
Hedge Funds Weigh In On Ballard Power Systems
A number of large investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Ballard Power Systems in the 2nd quarter worth about $91,000. MQS Management LLC bought a new stake in Ballard Power Systems during the 2nd quarter valued at $79,000. XTX Topco Ltd acquired a new position in shares of Ballard Power Systems during the second quarter valued at $154,000. Hsbc Holdings PLC grew its position in Ballard Power Systems by 76.6% in the 2nd quarter. Hsbc Holdings PLC now owns 116,616 shares of the technology company’s stock valued at $263,000 after buying an additional 50,592 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after buying an additional 14,415 shares during the period. Institutional investors own 28.02% of the company’s stock.
About Ballard Power Systems
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.
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Source: defenseworld.net
