National Bank Financial Cuts Ballard Power Systems (TSE:BLDP) Price Target to C$4.50

Key Points

• National Bank Financial lowered Ballard Power Systems’ price target to C$4.50 from C$4.75 while maintaining a “sector perform” rating, implying roughly 26% upside from the prior close.
• Ballard shares fell to C$3.57, well below their 50-day moving average of C$5.37; the stock has traded between C$2.34 and C$9.08 over the past year.
• The company reported a quarterly loss of C$0.10 per share on C$29.27 million in revenue, alongside a negative net margin of 72.38%. Insiders have sold more than 10 million shares valued at approximately C$58.2 million over the past 90 days.

Ballard Power Systems (TSE:BLDP - Get Free Report) had its price objective lowered by analysts at National Bank Financial from C$4.75 to C$4.50 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price points to a potential upside of 26.05% from the company's previous close.

Ballard Power Systems Price Performance

Ballard Power Systems stock traded down C$0.14 during midday trading on Thursday, reaching C$3.57. The company's stock had a trading volume of 885,129 shares, compared to its average volume of 1,128,367. Ballard Power Systems has a fifty-two week low of C$2.34 and a fifty-two week high of C$9.08. The company has a debt-to-equity ratio of 3.52, a quick ratio of 13.57 and a current ratio of 11.19. The stock's 50 day simple moving average is C$5.37 and its 200 day simple moving average is C$4.49. The firm has a market capitalization of C$1.08 billion, a PE ratio of -13.73, a P/E/G ratio of -2,030.00 and a beta of 1.11.

Ballard Power Systems (TSE:BLDP - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported C($0.10) earnings per share for the quarter. The company had revenue of C$29.27 million for the quarter. Ballard Power Systems had a negative return on equity of 13.17% and a negative net margin of 72.38%. On average, equities research analysts forecast that Ballard Power Systems will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Ballard Power Systems

In other Ballard Power Systems news, insider Ltd. Weichai Power Co. sold 2,399,353 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$5.74, for a total transaction of C$13,772,286.22. Following the sale, the insider directly owned 41,621,248 shares in the company, valued at approximately C$238,905,963.52. The trade was a 5.45% decrease in their ownership of the stock. Also, insider Limited Weichai Power Hong Kong International Development Co. sold 2,111,111 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$5.86, for a total value of C$12,371,110.46. Following the completion of the sale, the insider directly owned 44,020,601 shares in the company, valued at C$257,960,721.86. This trade represents a 4.58% decrease in their position. Over the last ninety days, insiders have sold 10,064,347 shares of company stock valued at $58,240,001. 15.53% of the stock is currently owned by insiders.

Ballard Power Systems Company Profile

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.

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