Ballard Power Systems (NASDAQ:BLDP) Stock Price Expected to Rise, Susquehanna Analyst Says

Key Points

• Susquehanna analyst raised the price target for Ballard Power Systems from $2.00 to $3.30, indicating a potential upside of 0.92% from the current price, and maintains a "neutral" rating.
• Ballard Power Systems reported a loss of ($0.08) EPS for the last quarter, exceeding analysts' expectations of ($0.10), with revenue slightly above estimates at $17.98 million.
• The stock's performance has been volatile, currently trading at $3.27, down 8.9%, with a 52-week range of $1.00 to $3.85.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price target raised by investment analysts at Susquehanna from $2.00 to $3.30 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Susquehanna's target price would indicate a potential upside of 0.92% from the company's current price.

A number of other research analysts have also recently commented on BLDP. BMO Capital Markets raised their price target on shares of Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research note on Tuesday, August 12th. HSBC set a $3.40 price target on Ballard Power Systems in a research report on Thursday. Wells Fargo & Company lifted their price objective on Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Roth Capital upped their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a report on Monday, August 11th. Finally, Lake Street Capital cut shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Ten equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $1.81.

Ballard Power Systems Stock Down 8.9%

BLDP stock opened at $3.27 on Monday. The stock has a market capitalization of $982.90 million, a price-to-earnings ratio of -3.30 and a beta of 1.80. The company has a 50-day moving average of $2.34 and a two-hundred day moving average of $1.77. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. The firm had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. As a group, equities research analysts anticipate that Ballard Power Systems will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Several large investors have recently modified their holdings of BLDP. Legal & General Group Plc lifted its holdings in Ballard Power Systems by 104.2% during the 2nd quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company's stock worth $20,977,000 after purchasing an additional 6,701,756 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 valued at $5,408,000 after purchasing an additional 829,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ballard Power Systems by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,081,746 shares of the technology company's stock worth $4,499,000 after acquiring an additional 285,317 shares in the last quarter. Invesco Ltd. boosted its position in Ballard Power Systems by 3.6% in the first quarter. Invesco Ltd. now owns 3,729,188 shares of the technology company's stock valued at $4,102,000 after buying an additional 130,772 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Ballard Power Systems by 117.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company's stock worth $4,327,000 after acquiring an additional 1,467,547 shares during the last quarter. 28.02% of the stock is owned by institutional investors.

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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