Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $4.00 by Analysts at National Bankshares

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target decreased by National Bankshares from $4.50 to $4.00 in a report released on Wednesday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the technology company’s stock.

BLDP has been the subject of a number of other reports. Piper Sandler reduced their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an underweight rating for the company in a research report on Wednesday, March 13th. Raymond James reduced their target price on Ballard Power Systems from $4.50 to $4.00 and set a market perform rating for the company in a research report on Wednesday, March 13th. Citigroup lowered their price target on Ballard Power Systems from $4.50 to $3.50 and set a neutral rating on the stock in a report on Tuesday, February 27th. Truist Financial reissued a hold rating and set a $3.00 price objective (down previously from $3.50) on shares of Ballard Power Systems in a report on Wednesday. Finally, CIBC lowered their target price on shares of Ballard Power Systems from $3.75 to $3.50 and set a neutral rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $3.77.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $2.88 on Wednesday. The business’s fifty day moving average is $2.89 and its 200 day moving average is $3.24. The firm has a market cap of $861.96 million, a price-to-earnings ratio of -4.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. Ballard Power Systems has a 52-week low of $2.42 and a 52-week high of $5.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Ballard Power Systems will post -0.51 EPS for the current 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. Endowment Wealth Management Inc. purchased a new position in shares of Ballard Power Systems in the first quarter valued at about $28,000. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC raised its holdings in shares of Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,000 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Ballard Power Systems in the third quarter worth about $48,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Ballard Power Systems by 37.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after purchasing an additional 3,753 shares in the last quarter. Institutional investors own 28.02% 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 (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.