Susquehanna Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Key Points

• Susquehanna cut its price target on Ballard Power Systems from $4.25 to $3.50 while keeping a neutral rating, implying only modest upside from the current share price.
• Analyst sentiment remains cautious overall: Ballard has a consensus rating of "Reduce" with an average target price of $3.52, based on a mix of mostly hold and sell ratings.
• The company recently beat EPS estimates by a small margin, but revenue missed expectations and fundamentals remain weak, with negative profit margins and a forecast for a loss this fiscal year.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price objective decreased by stock analysts at Susquehanna from $4.25 to $3.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Susquehanna's price objective points to a potential upside of 8.36% from the stock's current price.

Several other equities analysts have also commented on the company. TD Cowen increased their price objective on Ballard Power Systems from $2.50 to $4.25 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their target price on Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a research note on Friday, March 27th. Raymond James Financial increased their price target on shares of Ballard Power Systems from $2.40 to $4.00 and gave the company a "market perform" rating in a research report on Wednesday, May 6th. BMO Capital Markets lifted their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an "underperform" rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital upgraded shares of Ballard Power Systems from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ballard Power Systems presently has an average rating of "Reduce" and a consensus target price of $3.52.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $3.23 on Friday. Ballard Power Systems has a 52-week low of $1.70 and a 52-week high of $6.57. The firm has a fifty day moving average of $4.49 and a 200 day moving average of $3.21. The firm has a market capitalization of $973.78 million, a PE ratio of -11.96 and a beta of 2.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million for the quarter, compared to the consensus estimate of $19.88 million. As a group, research analysts anticipate that Ballard Power Systems will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently modified their holdings of BLDP. Legal & General Group Plc increased its stake in Ballard Power Systems by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company's stock worth $36,486,000 after purchasing an additional 326,505 shares during the period. Two Sigma Investments LP increased its stake in shares of Ballard Power Systems by 11.7% in the third quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company's stock worth $17,089,000 after buying an additional 657,107 shares during the period. Invesco Ltd. increased its stake in shares of Ballard Power Systems by 48.6% in the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company's stock worth $12,621,000 after buying an additional 1,625,542 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ballard Power Systems by 20.3% during 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 buying an additional 829,012 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Ballard Power Systems by 204.5% during the 4th quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company's stock valued at $10,145,000 after buying an additional 2,682,355 shares during the last quarter. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Company Profile

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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