Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $1.30 by Analysts at Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price reduced by stock analysts at Susquehanna from $1.40 to $1.30 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Susquehanna’s target price would indicate a potential upside of 5.69% from the company’s current price.

Several other analysts have also recently issued reports on BLDP. Citigroup cut their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Raymond James decreased their price objective on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday, March 14th. Roth Mkm dropped their target price on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Friday, March 14th. Wells Fargo & Company set a $1.00 price objective on shares of Ballard Power Systems in a research report on Thursday, March 13th. Finally, HSBC cut their target price on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a report on Friday, March 14th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average target price of $2.11.

Ballard Power Systems Stock Up 2.5 %

BLDP traded up $0.03 on Monday, reaching $1.23. The company’s stock had a trading volume of 1,795,524 shares, compared to its average volume of 5,347,178. The stock has a market cap of $368.31 million, a price-to-earnings ratio of -1.12 and a beta of 1.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The business’s 50 day moving average is $1.27 and its 200 day moving average is $1.47. Ballard Power Systems has a 1 year low of $1.00 and a 1 year high of $3.34.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BLDP. Invesco Ltd. boosted its position in shares of Ballard Power Systems by 5.6% during the 4th quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock valued at $5,973,000 after purchasing an additional 191,582 shares in the last quarter. Millennium Management LLC lifted its stake in Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after purchasing an additional 1,177,718 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after buying an additional 644,861 shares in the last quarter. Two Sigma Investments LP grew its position in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after buying an additional 661,413 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Ballard Power Systems by 19.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock valued at $2,529,000 after buying an additional 252,524 shares in the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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.