Ballard Power Systems (NASDAQ:BLDP) Given New $1.40 Price Target at UBS Group

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective cut by UBS Group from $2.00 to $1.40 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other brokerages also recently issued reports on BLDP. Susquehanna lowered their price target on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a report on Monday, April 14th. Roth Mkm lowered 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 report on Friday, March 14th. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a report on Thursday, May 8th. Citigroup reiterated a “sell” rating and set a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a report on Thursday, April 17th. Finally, BMO Capital Markets reduced their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.09.

Ballard Power Systems Stock Up 3.7%

Shares of BLDP opened at $1.40 on Monday. Ballard Power Systems has a one year low of $1.00 and a one year high of $3.34. The company has a market cap of $419.77 million, a P/E ratio of -1.27 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The firm has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $1.40.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. Research analysts forecast that Ballard Power Systems will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. SG Americas Securities LLC acquired a new position in Ballard Power Systems in the fourth quarter valued at $176,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after buying an additional 10,767 shares during the period. Van ECK Associates Corp lifted its holdings in Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after buying an additional 644,861 shares during the period. Alberta Investment Management Corp acquired a new position in Ballard Power Systems in the fourth quarter valued at $310,000. Finally, Raymond James Financial Inc. acquired a new position in Ballard Power Systems in the fourth quarter valued at $27,000. 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.