Jefferies Financial Group Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $3.50

Ballard Power Systems (NASDAQ:BLDPGet Free Report) (TSE:BLD) had its price objective cut by investment analysts at Jefferies Financial Group from $4.00 to $3.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 6.71% from the company’s previous close.

A number of other equities analysts have also weighed in on BLDP. Susquehanna Bancshares decreased their target price on Ballard Power Systems from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. TD Securities dropped their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a report on Wednesday, November 8th. BMO Capital Markets dropped their price objective on Ballard Power Systems from $3.65 to $3.50 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Susquehanna dropped their price objective on Ballard Power Systems from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Finally, Truist Financial dropped their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and an average target price of $4.25.

Get Our Latest Report on Ballard Power Systems

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $3.28 on Tuesday. The firm has a market capitalization of $979.80 million, a P/E ratio of -6.07 and a beta of 1.83. The company has a quick ratio of 11.59, a current ratio of 12.57 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $3.53 and its two-hundred day simple moving average is $3.81. Ballard Power Systems has a twelve month low of $2.91 and a twelve month high of $7.10.

Ballard Power Systems (NASDAQ:BLDPGet Free Report) (TSE:BLD) last announced its earnings results on Tuesday, November 7th. The technology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $27.58 million for the quarter, compared to analyst estimates of $25.74 million. Ballard Power Systems had a negative return on equity of 12.22% and a negative net margin of 209.79%. As a group, equities analysts anticipate that Ballard Power Systems will post -0.46 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Ballard Power Systems by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after buying an additional 148,321 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Ballard Power Systems by 31.3% during the 4th quarter. Legal & General Group Plc now owns 4,253,396 shares of the technology company’s stock worth $20,342,000 after acquiring an additional 1,014,539 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ballard Power Systems by 27.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock worth $14,353,000 after acquiring an additional 849,311 shares in the last quarter. Norges Bank bought a new position in shares of Ballard Power Systems during the 4th quarter valued at approximately $17,983,000. Finally, Morgan Stanley grew its holdings in shares of Ballard Power Systems by 20.9% in the fourth quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after purchasing an additional 638,824 shares in the last quarter. 23.41% of the stock is currently owned by institutional investors.

About Ballard Power Systems

(Get Free Report)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and power generation.

Recommended Stories

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.