Ballard Power Systems (NASDAQ:BLDP) PT Lowered to $2.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price dropped by investment analysts at Citigroup from $3.50 to $2.00 in a research note issued on Monday, BayStreet.CA reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 11.73% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, August 13th. Cibc World Mkts downgraded shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Jefferies Financial Group cut their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and cut their target price for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.01.

Ballard Power Systems Stock Down 2.7 %

Shares of BLDP traded down $0.05 during trading hours on Monday, reaching $1.79. 1,722,663 shares of the stock traded hands, compared to its average volume of 2,798,498. 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 stock has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $2.45. Ballard Power Systems has a 52 week low of $1.61 and a 52 week high of $4.02. The company has a market cap of $535.94 million, a price-to-earnings ratio of -2.88 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, equities analysts forecast that Ballard Power Systems will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLDP. CIBC Asset Management Inc increased its stake in Ballard Power Systems by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after buying an additional 7,060 shares during the period. TD Asset Management Inc increased its stake in Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares during the period. BNP Paribas Financial Markets increased its stake in Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after buying an additional 8,549 shares during the period. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems during the 1st quarter valued at about $28,000. Finally, Tidal Investments LLC bought a new position in shares of Ballard Power Systems during the 1st quarter valued at about $39,000. 28.02% of the stock is currently owned by institutional investors.

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.