Ballard Power Systems (NASDAQ:BLDP) Hits New 12-Month Low at $2.64

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.64 and last traded at $2.70, with a volume of 209927 shares. The stock had previously closed at $2.69.

Analysts Set New Price Targets

BLDP has been the subject of a number of research reports. Raymond James cut their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group lowered their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, January 30th. Citigroup lowered their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Piper Sandler lowered their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a report on Wednesday, March 13th. Finally, TD Securities lowered their target price on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.97.

Ballard Power Systems Stock Performance

The business’s 50-day moving average price is $3.01 and its 200 day moving average price is $3.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $46.80 million during the quarter, compared to analyst estimates of $26.32 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The company’s revenue was up 131.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, equities research analysts anticipate that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors have recently added to or reduced their stakes in BLDP. Headlands Technologies LLC bought a new stake in Ballard Power Systems during the fourth quarter valued at $31,000. FNY Investment Advisers LLC increased its stake in Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after purchasing an additional 10,000 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Ballard Power Systems during the third quarter valued at $48,000. Exchange Traded Concepts LLC bought a new stake in Ballard Power Systems during the third quarter valued at $48,000. Finally, Deutsche Bank AG grew its position in shares of Ballard Power Systems by 95.3% during the third quarter. Deutsche Bank AG now owns 13,059 shares of the technology company’s stock worth $48,000 after acquiring an additional 6,373 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.