Ballard Power Systems (NASDAQ:BLDP) PT Lowered to $1.50 at Susquehanna

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by Susquehanna from $2.00 to $1.50 in a research note released on Wednesday, Benzinga reports. Susquehanna currently has a neutral rating on the technology company’s stock.

Several other brokerages also recently commented on BLDP. Citigroup dropped their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Raymond James dropped their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Lake Street Capital dropped their price target on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets dropped their price target on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research note on Tuesday, August 13th. Finally, Truist Financial dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.89.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.68 on Wednesday. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $503.01 million, a price-to-earnings ratio of -2.67 and a beta of 1.78. The firm’s 50 day simple moving average is $1.76 and its 200 day simple moving average is $2.34. Ballard Power Systems has a 1 year low of $1.59 and a 1 year high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, research analysts expect that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 3Chopt Investment Partners LLC bought a new position in shares of Ballard Power Systems in the 2nd quarter worth $219,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ballard Power Systems in the 2nd quarter worth about $204,000. Scientech Research LLC purchased a new stake in shares of Ballard Power Systems in the 2nd quarter worth about $52,000. Decade Renewable Partners LP purchased a new stake in shares of Ballard Power Systems in the 2nd quarter worth about $450,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Ballard Power Systems in the 2nd quarter worth about $91,000. 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.