Ballard Power Systems (NASDAQ:BLDP) Given New $2.00 Price Target at Citigroup

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective decreased by Citigroup from $3.50 to $2.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 13.64% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. CIBC reiterated an “underperformer” rating and set a $1.60 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Cibc World Mkts cut shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Susquehanna dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, 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 report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.01.

Ballard Power Systems Price Performance

Shares of BLDP stock opened at $1.76 on Monday. 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 firm’s 50-day moving average is $1.88 and its two-hundred day moving average is $2.45. Ballard Power Systems has a 12 month low of $1.61 and a 12 month high of $4.02. The company has a market capitalization of $526.96 million, a PE ratio of -2.85 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its 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. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. Ballard Power Systems’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that Ballard Power Systems will post -0.48 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of 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 worth $925,000 after buying an additional 7,060 shares during the last quarter. TD Asset Management Inc raised its position in Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ballard Power Systems by 4.1% in the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after purchasing an additional 8,549 shares during the last quarter. Endowment Wealth Management Inc. purchased a new stake in Ballard Power Systems in the 1st quarter valued at $28,000. Finally, Tidal Investments LLC purchased a new stake in Ballard Power Systems in the 1st quarter valued at $39,000. Hedge funds and other 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.