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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective cut by equities researchers at Susquehanna from $1.40 to $1.30 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Susquehanna’s price target would indicate a potential upside of 9.24% from the company’s previous close.

Several other analysts have also recently commented on BLDP. Wells Fargo & Company set a $1.00 price objective on shares of Ballard Power Systems in a research note on Thursday, March 13th. Citigroup cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Roth Mkm reduced their price target on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Friday, March 14th. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Finally, HSBC dropped their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research report on Friday, March 14th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.11.

Ballard Power Systems Trading Down 0.8 %

NASDAQ BLDP opened at $1.19 on Monday. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.34. The firm has a 50-day moving average price of $1.26 and a 200 day moving average price of $1.46. The stock has a market capitalization of $356.33 million, a P/E ratio of -1.08 and a beta of 1.84. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently added to or reduced their stakes in BLDP. Jane Street Group LLC lifted its position in shares of Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after buying an additional 646,219 shares during the last quarter. Geode Capital Management LLC raised its stake in Ballard Power Systems by 51.0% during the third quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock worth $779,000 after acquiring an additional 146,104 shares during the period. Van ECK Associates Corp lifted its holdings in Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ballard Power Systems by 71.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock valued at $1,695,000 after acquiring an additional 425,374 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Ballard Power Systems by 29.0% during the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock valued at $159,000 after purchasing an additional 19,856 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.