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Susquehanna Raises Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.00

Ballard Power Systems logo with Utilities background

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price objective lifted by Susquehanna from $1.30 to $2.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Susquehanna's price target would suggest a potential downside of 5.44% from the company's previous close.

Several other equities research analysts have also commented on BLDP. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Citigroup restated a "sell" rating and set a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. UBS Group lowered their target price on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.14.

Get Our Latest Analysis on Ballard Power Systems

Ballard Power Systems Price Performance

NASDAQ:BLDP traded up $0.10 during trading hours on Monday, hitting $2.12. 13,364,825 shares of the stock were exchanged, compared to its average volume of 9,215,711. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $2.38. The firm's fifty day moving average price is $1.60 and its 200 day moving average price is $1.42. The company has a current ratio of 9.00, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The company has a market cap of $634.18 million, a P/E ratio of -2.07 and a beta of 1.71.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. Ballard Power Systems had a negative return on equity of 20.41% and a negative net margin of 430.17%. The company had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. As a group, equities research analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Ballard Power Systems by 20.3% during the first 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 lifted its position 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 valued at $1,635,000 after acquiring an additional 534,834 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ballard Power Systems by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company's stock worth $4,499,000 after purchasing an additional 285,317 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Ballard Power Systems in the 1st quarter worth approximately $40,000. Finally, Amundi grew its stake in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after acquiring an additional 9,454 shares during the period. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Ballard Power Systems

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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