Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been assigned a $40.00 target price by investment analysts at Raymond James in a research note issued on Wednesday, BayStreet.CA reports. The brokerage currently has a "strong-buy" rating on the technology company's stock. Raymond James' price target would indicate a potential upside of 77.62% from the company's previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Ballard Power Systems from a "hold" rating to a "sell" rating in a research note on Wednesday, March 17th. B. Riley started coverage on shares of Ballard Power Systems in a research report on Thursday, April 22nd. They set a "buy" rating and a $30.00 price target on the stock. National Bank Financial decreased their price objective on shares of Ballard Power Systems from $38.00 to $35.00 and set an "outperform" rating for the company in a report on Friday, March 12th. BMO Capital Markets boosted their target price on Ballard Power Systems from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, March 12th. Finally, Citigroup decreased their price target on Ballard Power Systems from $42.00 to $33.00 in a research note on Friday, March 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of "Buy" and an average target price of $31.57.
NASDAQ:BLDP opened at $22.52 on Wednesday. The firm has a market capitalization of $6.69 billion, a P/E ratio of -112.60 and a beta of 1.74. The business has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $24.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.10 and a quick ratio of 8.36. Ballard Power Systems has a 12-month low of $8.87 and a 12-month high of $42.28.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, March 9th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.55 million. Ballard Power Systems had a negative net margin of 40.04% and a negative return on equity of 14.00%. Research analysts anticipate that Ballard Power Systems will post -0.19 EPS for the current fiscal year.
Several large investors have recently modified their holdings of BLDP. Reilly Financial Advisors LLC purchased a new position in Ballard Power Systems during the 4th quarter worth approximately $29,000. Advisory Services Network LLC boosted its position in shares of Ballard Power Systems by 488.6% in the fourth quarter. Advisory Services Network LLC now owns 2,060 shares of the technology company's stock worth $48,000 after buying an additional 1,710 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Ballard Power Systems by 96.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,750 shares of the technology company's stock valued at $64,000 after buying an additional 1,350 shares in the last quarter. Ecofin Advisors Ltd acquired a new position in Ballard Power Systems during the third quarter valued at $92,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Ballard Power Systems in the 4th quarter worth about $109,000. Institutional investors and hedge funds own 18.38% of the company's stock.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products primarily in Canada. The company offers heavy duty modules, marine systems, fuel cell stacks, backup power systems, and material handling products. It also provides technology solutions, including engineering and technology transfer, as well as the licenses and sells intellectual property portfolio and fundamental knowledge for various proton exchange membrane fuel cell applications.
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