BMO Capital Markets Forecasts Strong Price Appreciation for Ballard Power Systems (NASDAQ:BLDP) Stock

Key Points

• BMO Capital Markets raised the price target for Ballard Power Systems from $1.00 to $1.10, maintaining an "underperform" rating, which suggests a potential downside of 36.60% from the stock's previous close.
• Various analyst ratings include upgrades to "hold" from National Bank Financial, while seven analysts rate the stock as a sell, indicating mixed sentiments in the market.
• Ballard Power Systems shares recently traded down 3.6%, with a current market capitalization of $520.27 million and a 52-week trading range between $1.00 and $2.28.

Ballard Power Systems (NASDAQ:BLDP - Free Report) TSE: BLD had its target price raised by BMO Capital Markets from $1.00 to $1.10 in a research report sent to investors on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an underperform rating on the technology company's stock.

Several other research analysts also recently commented on the stock. Wall Street Zen upgraded shares of Ballard Power Systems to a "sell" rating in a report on Thursday, May 8th. National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Citigroup restated a "sell" rating and set a $1.00 price objective (down previously from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. Susquehanna boosted their price objective on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, UBS Group dropped their price objective on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a report on Monday, May 12th. Five research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $1.51.

Ballard Power Systems Stock Performance

BLDP traded up $0.17 during trading on Tuesday, hitting $2.00. The stock had a trading volume of 7,932,205 shares, compared to its average volume of 5,774,703. The firm has a market cap of $599.74 million, a PE ratio of -2.02 and a beta of 1.76. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $2.28. The company has a current ratio of 9.31, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $1.45.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. Analysts expect that Ballard Power Systems will post -0.54 EPS for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently made changes to their positions in BLDP. Raymond James Financial Inc. acquired a new position in Ballard Power Systems in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. boosted its position in Ballard Power Systems by 125.2% in the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company's stock valued at $37,000 after buying an additional 13,094 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Ballard Power Systems in the first quarter valued at about $40,000. Vanguard Personalized Indexing Management LLC boosted its position in Ballard Power Systems by 21.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company's stock valued at $48,000 after buying an additional 5,482 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock valued at $58,000 after buying an additional 19,170 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.