Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by Truist Financial from $18.00 to $13.00 in a research note published on Monday morning, Price Targets.com reports. The brokerage currently has a hold rating on the technology company’s stock. Truist Financial also issued estimates for Ballard Power Systems’ Q1 2023 earnings at ($0.05) EPS, Q2 2023 earnings at ($0.05) EPS, Q3 2023 earnings at ($0.03) EPS, Q4 2023 earnings at ($0.02) EPS and FY2025 earnings at $0.20 EPS.
BLDP has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Ballard Power Systems from a sell rating to a hold rating in a research note on Tuesday, January 4th. Sumitomo Mitsui Financial Group started coverage on Ballard Power Systems in a research note on Thursday, November 4th. They issued a neutral rating and a $20.00 price objective on the stock. KeyCorp assumed coverage on shares of Ballard Power Systems in a research report on Wednesday, January 5th. They issued a sector weight rating on the stock. Raymond James set a $25.00 price objective on shares of Ballard Power Systems and gave the company an outperform rating in a research report on Tuesday, November 23rd. Finally, Citigroup initiated coverage on shares of Ballard Power Systems in a report on Friday, November 19th. They issued an underweight rating on the stock. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $22.26.
Shares of BLDP stock opened at $9.49 on Monday. Ballard Power Systems has a 1 year low of $8.78 and a 1 year high of $42.28. The firm has a market capitalization of $2.83 billion, a PE ratio of -33.89 and a beta of 1.52. The stock has a fifty day moving average of $12.76 and a two-hundred day moving average of $14.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 20.12 and a current ratio of 20.92.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Sunday, November 7th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $25.20 million for the quarter, compared to the consensus estimate of $25.21 million. Ballard Power Systems had a negative net margin of 88.24% and a negative return on equity of 6.71%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts predict that Ballard Power Systems will post -0.31 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Ballard Power Systems by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,496,749 shares of the technology company’s stock worth $135,841,000 after buying an additional 368,213 shares during the period. BlackRock Inc. increased its holdings in Ballard Power Systems by 918.3% in the 3rd quarter. BlackRock Inc. now owns 5,784,250 shares of the technology company’s stock valued at $81,268,000 after buying an additional 5,216,236 shares during the period. Marshall Wace LLP raised its position in Ballard Power Systems by 4.3% in the second quarter. Marshall Wace LLP now owns 3,190,163 shares of the technology company’s stock worth $57,807,000 after purchasing an additional 130,511 shares in the last quarter. Mirova lifted its stake in Ballard Power Systems by 4.4% during the second quarter. Mirova now owns 3,155,257 shares of the technology company’s stock worth $57,176,000 after purchasing an additional 133,458 shares during the period. Finally, Morgan Stanley lifted its stake in Ballard Power Systems by 16.9% during the third quarter. Morgan Stanley now owns 2,687,637 shares of the technology company’s stock worth $37,763,000 after purchasing an additional 389,134 shares during the period. 27.44% of the stock is currently owned by institutional investors and hedge funds.
About Ballard Power Systems
Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.
Further Reading: The mechanics of the bid-ask spread in trading
Want More Great Investing Ideas?