Susquehanna Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $1.30

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target lowered by equities researchers at Susquehanna from $1.40 to $1.30 in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a “neutral” rating on the technology company’s stock. Susquehanna’s price target suggests a potential upside of 9.24% from the stock’s current price.

Several other brokerages also recently commented on BLDP. National Bankshares reduced their target price on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating for the company in a report on Friday, March 14th. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. Citigroup reduced their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. UBS Group set a $1.25 target price on Ballard Power Systems in a report on Friday, March 14th. Finally, Roth Mkm reduced their price target on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and an average target price of $2.11.

Ballard Power Systems Trading Down 0.8 %

Shares of BLDP stock opened at $1.19 on Monday. The stock has a 50-day simple moving average of $1.26 and a 200 day simple moving average 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. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $3.34.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BLDP. Raymond James Financial Inc. bought a new position in Ballard Power Systems in the fourth quarter valued at approximately $27,000. Toronto Dominion Bank lifted its position in Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares in the last quarter. Headlands Technologies LLC acquired a new position in Ballard Power Systems in the 4th quarter worth $52,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Ballard Power Systems by 35.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Ballard Power Systems by 44.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock valued at $82,000 after purchasing an additional 15,160 shares during the period. 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.