Citigroup Has Lowered Expectations for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by equities researchers at Citigroup from $2.00 to $1.50 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 11.94% from the company’s previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets cut their target price on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research report on Friday, March 14th. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. CIBC reduced their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. Roth Mkm dropped their target price on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, UBS Group set a $1.25 price target on Ballard Power Systems in a report on Friday, March 14th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.13.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.34 on Tuesday. The company has a market cap of $401.25 million, a price-to-earnings ratio of -1.22 and a beta of 1.75. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.08 and a 12 month high of $3.38. The stock has a 50-day moving average price of $1.40 and a two-hundred day moving average price of $1.54.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently added to or reduced their stakes in the company. First Commonwealth Financial Corp PA acquired a new stake in shares of Ballard Power Systems in the 3rd quarter worth about $27,000. Raymond James Financial Inc. purchased a new position in Ballard Power Systems during the fourth quarter worth about $27,000. Toronto Dominion Bank boosted its holdings in Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after purchasing an additional 20,949 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ballard Power Systems in the 4th quarter worth about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after buying an additional 10,767 shares during the last quarter. Institutional investors and hedge funds 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.