Ballard Power Systems (NASDAQ:BLDP) Earns Hold Rating from Truist Financial

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “hold” rating reiterated by equities research analysts at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the technology company’s stock, down from their previous price objective of $3.50. Truist Financial’s price objective points to a potential upside of 7.14% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. TD Securities reduced their price target on Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Piper Sandler dropped their price objective on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Raymond James decreased their price target 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. Finally, Citigroup reduced their price objective on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.90.

Ballard Power Systems Price Performance

BLDP opened at $2.80 on Wednesday. The company has a 50 day moving average of $2.89 and a two-hundred day moving average of $3.24. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 52-week low of $2.42 and a 52-week high of $5.68. The company has a market cap of $838.01 million, a P/E ratio of -4.81 and a beta of 1.65.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $14.50 million during the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. Ballard Power Systems’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts expect that Ballard Power Systems will post -0.51 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

A number of large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ballard Power Systems by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after acquiring an additional 89,643 shares during the last quarter. Swiss National Bank lifted its stake in Ballard Power Systems by 1.9% during the third quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock valued at $1,967,000 after purchasing an additional 10,100 shares during the last quarter. Vanguard Group Inc. grew its position in Ballard Power Systems by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after buying an additional 148,321 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Ballard Power Systems by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after buying an additional 4,677 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Ballard Power Systems by 116.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 35,861 shares of the technology company’s stock valued at $133,000 after acquiring an additional 19,284 shares during the last quarter. 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.