Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $1.50

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price hoisted by Wells Fargo & Company from $1.00 to $1.50 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday. National Bank Financial upgraded Ballard Power Systems to a “hold” rating in a report on Sunday, June 8th. Citigroup reiterated a “sell” rating and set a $1.00 price objective (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. BMO Capital Markets increased their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a report on Tuesday. Finally, Susquehanna increased their price objective on Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, Ballard Power Systems currently has an average rating of “Hold” and a consensus price target of $1.51.

Ballard Power Systems Stock Performance

BLDP stock opened at $1.87 on Wednesday. The business’s 50-day moving average price is $1.75 and its two-hundred day moving average price is $1.44. The company has a current ratio of 9.31, a quick ratio of 8.13 and a debt-to-equity ratio of 0.03. The firm has a market cap of $560.76 million, a PE ratio of -1.89 and a beta of 1.76. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $2.28.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The firm had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. As a group, research analysts forecast that Ballard Power Systems will post -0.54 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of BLDP. Raymond James Financial Inc. bought a new stake in Ballard Power Systems during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. raised its holdings in Ballard Power Systems by 125.2% during the second quarter. SBI Securities Co. Ltd. now owns 23,553 shares of the technology company’s stock worth $37,000 after acquiring an additional 13,094 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Ballard Power Systems during the first quarter worth about $40,000. Vanguard Personalized Indexing Management LLC raised its holdings in Ballard Power Systems by 21.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after acquiring an additional 5,482 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Ballard Power Systems during the first quarter worth approximately $69,000. 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.