Ballard Power Systems (NASDAQ:BLDP) PT Set at $4.75 by National Bank Financial

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) has been given a $4.75 target price by stock analysts at National Bank Financial in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. National Bank Financial’s price objective would suggest a potential upside of 28.21% from the company’s current price.

Several other research analysts have also recently commented on BLDP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. ATB Cormark Capital Markets lifted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a report on Friday, March 27th. Susquehanna raised their price target on Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Finally, Lake Street Capital raised Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $3.59.

Ballard Power Systems Stock Down 11.2%

NASDAQ BLDP traded down $0.47 during trading hours on Wednesday, hitting $3.71. 6,906,861 shares of the company were exchanged, compared to its average volume of 5,834,838. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -13.76 and a beta of 2.19. The company has a 50 day moving average of $4.39 and a two-hundred day moving average of $3.14. Ballard Power Systems has a 52-week low of $1.39 and a 52-week high of $6.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million during the quarter, compared to the consensus estimate of $19.88 million. Equities research analysts anticipate that Ballard Power Systems will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth approximately $26,000. Intesa Sanpaolo S.p.A. purchased a new position in Ballard Power Systems in the 4th quarter valued at approximately $28,000. Finally, Cetera Investment Advisers purchased a new stake in Ballard Power Systems during the first quarter worth $33,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.