Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Target Price at $2.13

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average recommendation of “Reduce” by the sixteen research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $2.13.

Several equities analysts have commented on BLDP shares. UBS Group set a $1.25 price target on Ballard Power Systems in a report on Friday, March 14th. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. BMO Capital Markets decreased their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a report on Friday, March 14th. HSBC lowered their price target on Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research report on Friday, March 14th. Finally, Citigroup cut their price objective on 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.

Ballard Power Systems Stock Performance

BLDP opened at $1.16 on Friday. The stock has a 50-day moving average of $1.27 and a 200-day moving average of $1.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a 52-week low of $1.00 and a 52-week high of $3.34. The company has a market cap of $347.35 million, a PE ratio of -1.05 and a beta of 1.84.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors have recently added to or reduced their stakes in BLDP. Toronto Dominion Bank raised its holdings in shares of Ballard Power Systems by 181.5% in the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company’s stock worth $131,000 after buying an additional 50,695 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Ballard Power Systems during the fourth quarter worth $150,000. Two Sigma Advisers LP lifted its holdings in shares of Ballard Power Systems by 104.6% during the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock valued at $1,619,000 after acquiring an additional 498,600 shares during the period. Two Sigma Investments LP boosted its stake in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Ballard Power Systems by 51.3% in the 4th quarter. Tidal Investments LLC now owns 400,533 shares of the technology company’s stock worth $665,000 after purchasing an additional 135,752 shares during the last quarter. 28.02% of the stock is 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 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.