Ballard Power Systems’ (BLDP) Underperformer Rating Reiterated at CIBC

CIBC reaffirmed their underperformer rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a research report released on Tuesday, Benzinga reports. They currently have a $1.60 target price on the technology company’s stock, down from their previous target price of $3.50.

Other research analysts have also issued research reports about the company. BMO Capital Markets reduced their price objective on Ballard Power Systems from $2.25 to $1.70 and set an underperform rating for the company in a research report on Tuesday. Truist Financial reduced their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a hold rating for the company in a report on Tuesday. Susquehanna lowered 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. TD Securities downgraded shares of Ballard Power Systems from a hold rating to a sell rating and cut their price objective for the company from $2.50 to $1.50 in a research report on Monday. Finally, HSBC reduced their target price on shares of Ballard Power Systems from $4.10 to $3.80 and set a buy rating for the company in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $3.11.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $1.85 on Tuesday. Ballard Power Systems has a 1-year low of $1.77 and a 1-year high of $4.48. The company’s fifty day moving average is $2.33 and its two-hundred day moving average is $2.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.88.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Ballard Power Systems’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Trading of Ballard Power Systems

Institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in Ballard Power Systems during the second quarter worth about $204,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at about $52,000. Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems in the 2nd quarter worth approximately $450,000. Itau Unibanco Holding S.A. acquired a new position in shares of Ballard Power Systems in the 2nd quarter worth approximately $91,000. Finally, MQS Management LLC bought a new stake in shares of Ballard Power Systems in the 2nd quarter worth approximately $79,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

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.