Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.77

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $2.31.

A number of research firms have weighed in on BLDP. Raymond James lowered their target price on Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday. Roth Mkm decreased their price objective on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Friday. National Bankshares decreased their price objective on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating for the company in a report on Friday. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Finally, BMO Capital Markets decreased their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a report on Friday.

Ballard Power Systems Stock Up 3.1 %

Ballard Power Systems stock opened at $1.32 on Monday. The business has a fifty day moving average of $1.43 and a two-hundred day moving average of $1.55. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The firm has a market cap of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75. Ballard Power Systems has a twelve month low of $1.08 and a twelve month high of $3.38.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in shares of Ballard Power Systems by 181.5% during the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company’s stock valued at $131,000 after buying an additional 50,695 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Ballard Power Systems during the 4th quarter valued at about $150,000. Two Sigma Advisers LP raised its stake in shares of Ballard Power Systems by 104.6% during the 4th quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock valued at $1,619,000 after buying an additional 498,600 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Ballard Power Systems by 58.4% during 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 buying an additional 661,413 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Ballard Power Systems by 51.3% during the 4th quarter. Tidal Investments LLC now owns 400,533 shares of the technology company’s stock valued at $665,000 after buying an additional 135,752 shares during the last quarter. Hedge funds and other institutional investors 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.