Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $2.10

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective increased by BMO Capital Markets from $1.70 to $2.10 in a research note published on Wednesday,BayStreet.CA reports. BMO Capital Markets currently has an underperform rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company raised their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Monday, April 20th. TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a research report on Friday, January 9th. TD Cowen raised their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $5.00 in a research report on Tuesday. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Reduce” and an average target price of $3.51.

Ballard Power Systems Stock Down 12.1%

Shares of NASDAQ BLDP opened at $4.13 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.14. The company has a market cap of $1.25 billion, a P/E ratio of -15.30 and a beta of 1.94. Ballard Power Systems has a 1 year low of $1.24 and a 1 year high of $4.86. The firm has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $2.74.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $18.98 million during the quarter, compared to the consensus estimate of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Research analysts anticipate that Ballard Power Systems will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors have recently modified their holdings of BLDP. Rockefeller Capital Management L.P. increased its holdings in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after buying an additional 6,952 shares during the period. Amundi increased its holdings in Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after buying an additional 9,454 shares during the period. Vontobel Holding Ltd. increased its holdings in Ballard Power Systems by 27.7% during the fourth quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock valued at $118,000 after buying an additional 10,000 shares during the period. Swiss Life Asset Management Ltd purchased a new position in Ballard Power Systems during the fourth quarter valued at approximately $26,000. Finally, Ground Swell Capital LLC purchased a new position in Ballard Power Systems during the first quarter valued at approximately $26,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.