Susquehanna Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Key Points

• Susquehanna lowered Ballard Power Systems’ price target from $3.00 to $2.00 while maintaining a neutral rating, implying roughly 13% upside from the $1.77 share price.
• Analyst sentiment remains cautious: Ballard has an average “Reduce” rating and a consensus price target of $3.30, with two Buy, ten Hold, and three Sell ratings.
• The company reported weaker-than-expected quarterly results, including an adjusted loss of $0.07 per share versus an expected $0.04 loss and revenue of $20.34 million versus a $25.24 million estimate.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price objective lowered by investment analysts at Susquehanna from $3.00 to $2.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Susquehanna's target price suggests a potential upside of 12.99% from the stock's current price.

Several other analysts have also commented on the stock. HSBC raised shares of Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 target price for the company in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Ballard Power Systems from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. UBS Group dropped their price target on Ballard Power Systems from $6.50 to $2.15 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. National Bank Financial set a $4.75 price target on Ballard Power Systems and gave the company a "sector perform" rating in a report on Wednesday, June 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $3.30.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.77 on Wednesday. Ballard Power Systems has a 52 week low of $1.76 and a 52 week high of $6.57. The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $2.26 and its two-hundred day moving average price is $3.21.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $20.34 million for the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. Equities research analysts expect that Ballard Power Systems will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock valued at $25,000 after buying an additional 6,952 shares during the period. Ground Swell Capital LLC acquired a new stake in Ballard Power Systems during the 1st quarter worth about $26,000. Cetera Investment Advisers acquired a new stake in Ballard Power Systems during the 1st quarter worth about $33,000. Caitong International Asset Management Co. Ltd boosted its position in Ballard Power Systems by 422.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 15,024 shares of the technology company's stock worth $38,000 after acquiring an additional 12,149 shares during the period. Finally, Farringdon Capital Ltd. purchased a new position in Ballard Power Systems during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 28.02% of the company's stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is a clean-energy technology company that develops and manufactures proton exchange membrane (PEM) fuel cell products and systems. Its technology generates electricity through an electrochemical reaction between hydrogen and oxygen, producing water and heat as byproducts during operation.

The company focuses primarily on heavy-duty applications, including fuel cell engines and modules for transit and commercial buses, trucks, trains, marine vessels and stationary power systems.

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