Ballard Power Systems (NASDAQ:BLDP) Given New $3.00 Price Target at Susquehanna

Key Points

• Susquehanna cut Ballard Power Systems’ price target to $3.00 from $3.50 while maintaining a “neutral” rating, implying roughly 15% upside from the $2.60 share price.
• Analyst sentiment remains mixed, but the consensus rating is “Hold,” with an average price target of $3.50. Ratings include one Strong Buy, two Buys, nine Holds and three Sells.
• Ballard reported weaker-than-expected quarterly results, posting an adjusted loss of $0.07 per share versus estimates of $0.04 and revenue of $20.34 million versus $25.24 million expected.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price objective reduced by stock analysts at Susquehanna from $3.50 to $3.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Susquehanna's price objective indicates a potential upside of 15.16% from the company's current price.

BLDP has been the topic of a number of other reports. Lake Street Capital upgraded shares of Ballard Power Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $3.00 to $5.00 in a research note on Tuesday, May 5th. Zacks Research raised shares of Ballard Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a report on Friday, July 17th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company an "underperform" rating in a research report on Wednesday, May 6th. Finally, TD Cowen lifted their price objective on Ballard Power Systems from $2.50 to $4.25 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $3.50.

Ballard Power Systems Stock Down 0.6%

Shares of Ballard Power Systems stock opened at $2.60 on Monday. Ballard Power Systems has a 12-month low of $1.70 and a 12-month high of $6.57. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $3.67 and a two-hundred day moving average price of $3.23. The stock has a market capitalization of $785.43 million, a P/E ratio of -10.15 and a beta of 2.29.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. The firm had revenue of $20.34 million during the quarter, compared to the consensus estimate of $25.24 million. Equities analysts expect that Ballard Power Systems will post -0.19 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently bought and sold shares of BLDP. Royal Bank of Canada raised its position in shares of Ballard Power Systems by 29.1% during the first quarter. Royal Bank of Canada now owns 692,662 shares of the technology company's stock valued at $761,000 after buying an additional 156,014 shares during the last quarter. Amundi raised its holdings in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ballard Power Systems by 20.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock worth $5,408,000 after acquiring an additional 829,012 shares during the period. Jane Street Group LLC grew its holdings in shares of Ballard Power Systems by 56.2% during the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock worth $1,635,000 after purchasing an additional 534,834 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ballard Power Systems by 604.4% during the second quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company's stock valued at $757,000 after purchasing an additional 408,641 shares during the period. 28.02% of the stock is owned by institutional investors.

About Ballard Power Systems

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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