Ballard Power Systems (NASDAQ:BLDP) Price Target Lowered to $1.40 at CIBC

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective reduced by stock analysts at CIBC from $1.60 to $1.40 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underperformer” rating on the technology company’s stock. CIBC’s price objective suggests a potential upside of 3.32% from the stock’s previous close.

Other analysts have also issued reports about the company. Susquehanna cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. 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 cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their price target for the company from $2.50 to $1.50 in a research report on Monday, August 12th. 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. Finally, Citigroup reduced their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.87.

Ballard Power Systems Price Performance

BLDP stock traded down $0.32 during trading on Wednesday, reaching $1.36. 5,521,396 shares of the company were exchanged, compared to its average volume of 2,890,151. The company has a market capitalization of $405.71 million, a price-to-earnings ratio of -2.10 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. The company has a 50-day moving average of $1.70 and a two-hundred day moving average of $2.22. Ballard Power Systems has a twelve month low of $1.32 and a twelve month high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company 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 company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) earnings per share. As a group, equities analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Endowment Wealth Management Inc. acquired a new position in Ballard Power Systems during the 1st quarter valued at about $28,000. Tidal Investments LLC purchased a new stake in Ballard Power Systems in the 1st quarter valued at $39,000. Scientech Research LLC bought a new position in Ballard Power Systems during the 2nd quarter valued at $52,000. Daiwa Securities Group Inc. raised its holdings in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after purchasing an additional 14,415 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in Ballard Power Systems during the first quarter worth about $59,000. Institutional investors own 28.02% of the company’s stock.

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.